$OUST possible bump and run reversal bottomIt's not perfect but it may be close. Let's see how it plays out now. I still expect some corrections/check backs if it heads higher, but so far it is playing out nicely.
Disregard the solid diagonal white trend line, not sure what I was trying with that one. Maybe it will be a point of resistance, maybe not.
Relevant fibs of support and resistance also shown.
Two trendlines for the bump and run are drawn (dashed lines) - I'm not quite sure which one is more accurate to be honest.
Had a decent amount of insider buying (IIRC) as well as being driven into the dirt with a low float of ~30M shares...
Still seems undervalued, but what do I know.
Final Notes:
It would be nice to hold $7; if not that, then 6.36 or 5.92. Seems pretty volatile and a potentially good candidate for active trading if you manage risk appropriately.
RSI is turning around on 1hr and lower TF, and it looks like a possible bearish harmonic (crab?) may be on the 15 min.
Looking for possible re-entries around $5-6 if it can retain its upward momentum.
References:
thepatternsite.com
Bulkowski's Encyclopedia of Chart Patterns, Chapter 14.
