In recent times Ocugen (NASDAQ:OCGN) has been in focus among investors due to the company’s work to bring the COVID 19 vaccine Covaxin to the American market.
However, this past week, the company announced that instead going for the emergency use authorization from the United States Food and Drug Administration for the vaccine, Ocugen is going to look for formal approval. The announcement was made this past week and it was not welcomed by investors. The stock suffered from a selloff and tanked by as much as 28% during the course of the week.
The move from the company has come about after the FDA had urged Ocugen to go for a biologics license application in place of the EUA. In addition to that, the agency had also asked for additional date regarding the vaccine. In its announcement, Ocugen stated that it will need to furnish more data in its BLA. It might lead to more delays and that seems to have dampened the excitement of many investors.
Key Averages
| +/- EMA(20) | 8.67 (-26.87%) |
| +/- SMA(50) | 8.71 (-27.21%) |
| +/- SMA(200) | 4.40 (+44.09%) |
Technical Indicators
| Symbol | Value | Result | Symbol | Value | Result |
| ADX | 38.6016 | Buy | ATR14 | 1.3505 | |
| CCI20 | -228.6364 | OverSold | Chaikin Money Flow | -0.0938 | Sell |
| MACD | -0.3237 | Sell | Money Flow Index | 49.3358 | Sell |
| ROC | -20.2516 | Sell | RSI | 38.1657 | Sell |
| STOCH (14,3) | 3.8776 | OverSold | STOCH RSI | 0.0000 | OverSold |
| UO | 35.8412 | Sell | Williams %R | -96.1224 | OverSold |
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