Johnson and Johnson Coronavirus vaccine has been approved, and Ocugen stock looks bearish going into April.
OCGN hit resistance on the weekly chart. The trend is down, and will likely accelerate down later in March. Weekly
What makes OCGN most interesting is that as you can imagine there are going to be a lot of ups and downs as Covaxin undergoes Phase 3 trials and approval in the US market.
At a March 16th meeting Ocugen will ask to increase authorized shares. The company has no money and will need to raise substantial amounts in developing Covaxin.
"An SEC Form DEFA14A filed today asks shareholders to approve the increase of 95 million shares at a March 16 special meeting as "it is imperative for the future of the company."
"Given the current level of authorized shares, "we are limited in our abilities to move the company forward in key strategic areas including potentially commercializing COVAXIN in the United States this year, if authorized or approved by the FDA," Musunuri writes.
Thank you for sharing your thoughts. What's your opinion about oil? You mentioned before Oil would be down at the end of Feb but will make a new high until the middle of March. My memory could be wrong though. Do you still think short-term down for oil in the early March?
Yes Oil played out as I had thought. The turn came at the end of the month of February. Cooling off this week but stronger next week to make another high. Then bearish Oil from March 14th into an April low due the second week of April.
India's Prime Minister Modi took Covaxin shot today.
"Prime Minister Narendra Modi on Monday received the first dose of Covid-19 vaccine, Covaxin, indigenously developed by Bharat Biotech International Limited, at the All India Institute of Medical Sciences (AIIMS) in Delhi. The Prime Minister tweeted that he got the first dose and urged those eligible to get vaccinated."
This is the confusing part for next week ---does that mean up or down for the SPX???-------to me--NDX--is lagging and Bond has quieted --anyone that has traded Bonds (treasuries) knows inflation is coming along with more US debt---the fed has little control over this--bonds(treasuries)- interest rates will be higher next month
Ocugen I'm glad to see the results and 81% is a good number. However, the US FDA is unlikely to accept these results because it was a foreign trial done in India.
To apply for US approval Ocugen will likely have to start a US trial, and that will take time.
OCGN is very interesting. The company has US rights to a Coronavirus vaccine approved in India called Covaxin.
ReplyDeleteCovaxin is undergoing phase 3 trials currently.
ReplyDeleteResults are due fairly soon. Some reports say 2 weeks but I think it may take longer about 5 weeks, probably April.
ReplyDeleteThe stock has some issues short term. A competitor Johnson and Johnson's vaccine was approved this weekend. OCGN is down today.
ReplyDeleteWhat makes OCGN most interesting is that as you can imagine there are going to be a lot of ups and downs as Covaxin undergoes Phase 3 trials and approval in the US market.
ReplyDeleteI love the way this stock trades!
ReplyDeleteI have big plans for OCGN...
ReplyDeletesc,
ReplyDeleteso you short into the end of March--and then go long---Correct???
Yes generally, or alternatively can wait to enter long at lower levels.
DeleteI'm not short nor any puts currently
DeleteAt a March 16th meeting Ocugen will ask to increase authorized shares. The company has no money and will need to raise substantial amounts in developing Covaxin.
ReplyDelete"An SEC Form DEFA14A filed today asks shareholders to approve the increase of 95 million shares at a March 16 special meeting as "it is imperative for the future of the company."
"Given the current level of authorized shares, "we are limited in our abilities to move the company forward in key strategic areas including potentially commercializing COVAXIN in the United States this year, if authorized or approved by the FDA," Musunuri writes.
Needless to say this is an issue that will need to be addressed
DeleteUVXY reaching for fresh lows. Although it did make a decent pop last week you can see why I have been avoiding it.
ReplyDeleteThank you for sharing your thoughts. What's your opinion about oil? You mentioned before Oil would be down at the end of Feb but will make a new high until the middle of March. My memory could be wrong though. Do you still think short-term down for oil in the early March?
ReplyDeleteYes Oil played out as I had thought. The turn came at the end of the month of February. Cooling off this week but stronger next week to make another high. Then bearish Oil from March 14th into an April low due the second week of April.
DeleteThank you for your prompt reply!
DeleteCramer has a good commentary about vix today.
ReplyDeleteIndia's Prime Minister Modi took Covaxin shot today.
ReplyDelete"Prime Minister Narendra Modi on Monday received the first dose of Covid-19 vaccine, Covaxin, indigenously developed by Bharat Biotech International Limited, at the All India Institute of Medical Sciences (AIIMS) in Delhi. The Prime Minister tweeted that he got the first dose and urged those eligible to get vaccinated."
RIG lol
ReplyDeleteAn April fool's buy?
ReplyDeleteConsolidation day today. Next week should be more exciting.
ReplyDeletesc,
ReplyDeleteThis is the confusing part for next week ---does that mean up or down for the SPX???-------to me--NDX--is lagging and Bond has quieted --anyone that has traded Bonds (treasuries) knows inflation is coming along with more US debt---the fed has little control over this--bonds(treasuries)- interest rates will be higher next month
SPX up next week because the market will have hopes for stimulus to pass prior to the deadline of March 14th.
DeleteThe bond market is a theme we will see more concerns over time this year. Not a big problem at the moment.
DeleteCrude oil goes to 52, no new highs, SC your thoughts
ReplyDeleteOil turn is coming soon. For the high let's see next week. I do agree Oil is toppy.
Deletesc,
ReplyDeletethis means a new high next week?
Thank you!
Next week is important. It does have that potential.
Delete"Ocugen stock soars after partner Bharat Biotech COVID-19 vaccine candidate shows 81% efficacy"
ReplyDeletenice move!
ReplyDeleteTook profits on RIG $4.00.
ReplyDeleteDone!
DeleteSCFebruary 19, 2021 at 7:17 AM
"I think RIG could pop to around $4 short term"
SC....
ReplyDeleteany charts on bitcoin?
Thank you
My bitcoin charts I am switching to the new chart format.
DeleteBitcoin could be interesting in short term as it is the favored "stimulus" trade.
The deadline is coming next week though and expect it to expire with no stimulus deal.
DeleteOcugen I'm glad to see the results and 81% is a good number. However, the US FDA is unlikely to accept these results because it was a foreign trial done in India.
ReplyDeleteTo apply for US approval Ocugen will likely have to start a US trial, and that will take time.
SPX is a dog this week just as the model predicted. SPX giving up it's gains. Next week should see some better strength.
ReplyDeleteLong tqqq 84.80
ReplyDeletesc,
ReplyDeleteThose rising bonds rates is breaking supports on the NDX, two or three days more this sell off -----is not good?
Financials still strong, SPX getting ready to run next week.
Delete