OCUL
$OCUL Buying it againThe stock is showing a good wave structure
It has a bit of spiky pullback during its wave 4
The candles have broken the highs and failed a few times
Apart from the above, it's looking really good for another push-up
I've lost 0.5R on it once. If this second and final attempt goes well
then I will recover the previous investment and plus 1R on top.
So here we go again
Buy Price $21.50
Target 1 $ 23.50 (Close Half and Move SL to BE)
Target 2 $29.50
BUY Setup - OCUL Breakout Trade in to wave 5Here we have another stock with a lovely wave 3 up
a nice not too complex wave 4 down
price has squeezed into a tight box allowing us to take a tight 3 dollar stop
Entry Price $21
Stop $18 (or maybe even 18.50)
Target 1: $23.50
Target 2: $26
Fingers Crossed!!!
Company Profile
Ocular Therapeutix, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies for diseases and conditions of the eye. Its product pipeline includes Dextenza, OTX-TP, and OTX-TIC. The company was founded by Amarpreet S. Sawhney and Farhad Khosravi on September 12, 2006 and is headquartered in Bedford, MA.
Earnings Play-OCULOCUL
OCUL has a pattern of descending triangles over the past 4-months (July-November 2019). The company launched its second commercial product Dextenza in the 2nd quarter where it gave away free samples. Its other product 'ReSure Sealent' has posted weak sales numbers ($472K in 1Q19 and ~600K in 2Q19). Dextenza is priced at $850 and is essentially an alternative to prescription eye-drops indicated for the treatment of inflammation and pain post-ocular surgery. Analysts are expecting a decline in EPS compared to the same period in 2018. I think the high price tag (even with J-code) for Dextenza and the strategy of giving away free product will translate to weak sales figures and will send the share price lower. This has been the short-term reaction after 1Q19 and 2Q19 earnings. Although the share price recovered to a high of ~$5.32 this summer it's since decayed and is trading down -17% YTD. Short interest is at 15% which supports a bearish outlook. I think it will reach a ~$3.83 ahead of earnings and then subsequently decline to ~$2.46.
Neutral ERBearish head and shoulders setup. Most likely no sales. I will look to add after retracement. Potential AB=BC harmonic correction.
Disclosure: I do not own shares of OCUL. This is not a note to buy or sell. please do your hw before investing.
OCUL - POSSIBLE 25% TREND MOVE ON THE DAILYOcular Therapeutix, Inc. is a biopharmaceutical company, which engages in the development and commercialization of therapies for diseases and conditions of the eye. Its product pipeline include Dextenza, OTX-TP, and OTX-TIC . The company was founded by Amarpreet S. Sawhney and Farhad Khosravi on September 12, 2006 and is headquartered in Bedford, MA.
SHORT INTEREST
8.24M 07/15/19
P/E Current
-2.78
P/E Ratio (with extraordinary items)
-2.92
Average Recommendation: OVERWEIGHT
Average Target Price: 9.67
Disending parallel channel This channel is a mess , for the longer as I am.
Is it to the end? Divergence on RSI and MACD let me think so , wait and see
I'm long-the titile is moving on the bottom of a ascending channel
-on daily is forming a double bottom
OCUL - Speculative smart money Momentum Long from $6.35 OCU was in our smart money watch list as it had Big insider buying on the 13th of August. It also seems forming a fallen angel formation. We think it has good upside potential.
John sent an intraday text alert on August 14th while this was at $6.35 indicating a possible entry zone. This has continued to hold and is something we continue to like as a long idea.
Great chart setup for entering long in OCULreally great chart setup here. RSI heading up. MACD crossover. looking for uptrend from here on.
OCUL HAS BROKEN THE DOWNTREND: ONE MORE WAVE UP?OCUL has broken this small degree downtrend. If the level posted on chart holds i'm expectiong one more wave up. Put an eye on earnings (3/9/2017) for a potential catalyst for the next move. A strong breakdown under the level posted on chart invalidates this setup.
OCUL - Long from 5.57 OCUL is moving upward after a huge decline followed by long consolidation. Break of 5.57 will be a long entry confirmation & our target is the just below gap down support at 6.43.
