Member Request: A Look at $OCGN

A member has requested that I look at $OCGN. I am shy about being too confident about Elliott Wave counts on stocks that have moved with such magnitudes in price. It’s very easy to be incredibly wrong about the degree of structure involved in such cases. That said, we may not have no tools at our disposal. I will rely on a couple of other technical things that I see here.

It is a good candidate for a large, multi-year inverse head and shoulders pattern. It is also very promising that it is now riding its 250-day EMA. I would say that so long as that EMA holds, the inverse stands a good change of playing out in the long run, which gives us a substantial upside target, which I have noted.

OCGN


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