Ocugen Shares Test Critical Support Level Amid Heavy Selling

Biotechnology firm Ocugen is facing intense selling pressure, with its stock price declining sharply in recent sessions. On Monday, the equity fell 4.84% to close at $1.18, breaching a key technical level that market participants are now watching closely. The question for investors is whether this level will hold or if a steeper decline lies ahead.

The stock’s weakness was fully exposed during the latest trading day. It traded in a range between $1.18 and $1.26, representing a daily swing of over six percent. A particularly concerning development for chart analysts was the elevated trading volume of approximately three million shares coinciding with the price drop. This combination of higher volume and lower prices Read more...