$OUST — Echo Analysis: "You are still early"

Echo Analysis posts a bullish Elliott Wave analysis on $OUST (Ouster, NASDAQ). Current price at $42.70. Analysis points to a Primary Wave 3 target of $78.48 (+235% from the buy zone).

Key Levels

• Wave (1) peak: $41.55
• Wave (2) bottom: $17.03 (0.618 Fib = BUY ZONE)
• 0.5 Fib: $23.38 — price bounced straight off this level
• 1.618 Extension (Wave 3 target): $78.48
• Current price: $42.70

Analysis

Elliott Wave count suggests $OUST completed its Wave 2 correction with a W-X-Y complex corrective structure. The bounce off the 0.5 Fib ($23.38) confirms the buy zone. The descending trendline has broken, and price is now rallying into Wave 3, which is typically the strongest and longest wave.

Relevance

$OUST is already in the portfolio. At $42.70, the stock has already rallied significantly from the buy zone ($23-21 range). The $78.48 target represents substantial further upside if the Wave 3 thesis plays out. Worth monitoring for continuation and potential partial profit-taking near resistance levels.