Not an Elliot Wave guy but use generic rules when they seem fit. This was a sound 5 way move topped off by an RSI bearish divergence. I expect a retrace to the Kijun and from there we may see a little upwards momentum but it should correct in 3 waves before ONT starts its next leg up. Overall this is still heavily in an uptrend.
Komen:
Played out well and ONT should be getting ready for another leg up soon!