Long
For a high risk high reward setup, I present $OUST
OUST has been in a general down trend since June of 2021. I would say that anyone buying this stock is gambling. However, I feel there is a chance for a bounce here. OUST designs and manufactures digital lidar sensors for industrial automation, smart infrastructure, robotics, and automotive markets. With the increased push for self driving cars, there might be a chance for some growth for this company. Citigroup has a price target of $17 and a buy rating. I would be please with anything above $6. The stop loss on this stock is about 16% lower at the red line. But if it did get to $6 that would be a gain of above 62% . Risk of 16% reward of 62%. There are 104M shares in the float with a little over 9% short. If I had seen this chart the day prior, I would say this would be a short. But Friday it did close back over the upper trend line. Should be an interesting one to watch in the short term.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.