Ocugen Inc. (NASDAQ:OCGN) shares are trading lower Tuesday as the stock breaks below a key support level. The stock has been in a steady decline throughout the past months falling from monthly highs of around $18.
Ocugen stock has been trending on social media sites throughout the day, and was down 9.25% to $4.81 at the close on Tuesday.
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Ocugen is falling at a pretty rapid pace, pushing below the support level with some volume. This shows that the stock is being sold by many and that bears are in control of the stock. Bears are hoping the $6 level will become resistance for a possible further move downward.
Bulls are hoping to see the stock move above this support level and begin to make higher lows once again.
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‘This too shall pass away’ this famous Persian adage seems to be defeating us again and again in the case of COVID-19. Despite every effort