The San Francisco-based technology company said it will use the proceeds for working capital and general corporate purposes. Northland Securities served as the underwriter and received a 30-day option to purchase up to 543,281 additional shares to cover over-allotments.The selloff likely reflects investor concerns about dilution following the share issuance.Ouster shares had recently climbed near their 52-week high of $63.79 after the company’s Rev8 digital lidar sensors became compliant with the Build America, Buy America Act, making them eligible for federally funded infrastructure projects. The capital raise appears to have prompted some investors to lock in gains.OUST Technical Analysis: Key Support, Resistance And MomentumThe stock’s current price of $44.26 is trading about 1.4% below its 20-day simple moving average (SMA) of $45.54, while it remains significantly above its 50-day SMA of $38.50 by 16.6%. The relative strength index (RSI) is currently at 49.81, indicating neutral momentum and suggesting the stock is neither overbought nor oversold.
Key Resistance: $49.50 — a nearby level where rebounds can stall.
Key Support: $39.00 — a nearby level where buyers previously stepped in.
