EVGO vs OCGN: Swing Trader's Guide to 14.13% and 24.84% Returns
A Comparative Analysis: EVGO vs OCGN in the Context of Swing Trading and Price Growth
Compare: Swing Trader: High Volatility Stocks for Active Trading (TA&FA) generate 14.13% for EVGO vs Swing Trader: High Volatility Stocks for Active Trading (TA&FA) generate 24.84% for OCGN
A comparative look at EVGO and OCGN reveals intriguing insights for swing traders interested in high-volatility stocks. This analysis offers a detailed comparison of the two companies, reviewing their recent performance, price growth, and forthcoming earnings reports.
High Volatility Stocks for Active Trading
Swing traders focusing on high-volatility stocks through technical analysis and fundamental analysis (TA&FA) experienced quite different results for EVGO and OCGN. Specifically, a strategy applied to EVGO, a player in the Specialty Stores industry, generated a return of 14.13%. Conversely, the same methodology yielded a higher return of 24.84% when applied to OCGN, a Biotechnology industry constituent.
Week-on-Week Price Growth
EVGO experienced a week-on-week price change of +14.32%, outpacing OCGN, which posted a price change of +12.12% in the same period. Notably, both stocks significantly outperformed their respective industry averages, suggesting their strong momentum relative to peers.
For context, the average weekly price change across the Specialty Stores industry was a slight drop of -0.54%, while the Biotechnology industry posted a similar contraction of -0.69%.
Longer-Term Price Growth
When expanding the horizon to longer-term performance, different trends emerge. The average monthly price growth for the Specialty Stores industry, where EVGO operates, stood at +3.39%, while the Biotechnology industry, home to OCGN, experienced a higher average growth of +4.11%.
Looking at an even broader perspective, the average quarterly price growth for the Specialty Stores industry stood at +9.72%, compared to a substantial +40.50% for the Biotechnology industry. Thus, while EVGO demonstrated stronger week-on-week growth, OCGN seems to be part of an industry experiencing more robust quarterly growth.
Upcoming Earnings Reports
Lastly, earnings reports serve as critical events that often drive substantial price swings. EVGO is expected to report earnings on August 09, 2023, while OCGN is slated to announce its earnings slightly earlier, on August 04, 2023. Swing traders often watch these dates closely, as earnings reports can trigger significant volatility, creating opportunities for outsized gains.
Both EVGO and OCGN have demonstrated strong recent performance with their respective weekly price growth outperforming their industry averages. While EVGO showed stronger week-on-week performance, OCGN, operating in the Biotechnology industry, appears to benefit from more substantial industry-wide quarterly growth. As earnings dates for both companies approach, swing traders may find further opportunities in these high-volatility stocks.
OCGN's Indicator enters downward trend
The Aroon Indicator for OCGN entered a downward trend on August 14, 2024. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 257 similar instances where the Aroon Indicator formed such a pattern. In of the 257 cases the stock moved lower. This puts the odds of a downward move at .
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a company, which engages in the development and commercialization of therapies for eye diseases
Industry Biotechnology