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Although there are many controversial opinions about their battery technology and that they won’t deliver, this analysis doesn’t focus on the fundamentals regarding that. This is simply a TA based approach.
Elliot wave Theory:
QS have finished a wave 2 correction; it is now ongoing for a 3rd wave up. As long as QS maintains current price and DOES NOT go below 44 USD , the bullcase for 250 USD is still in play. If it breaks 44 USD, thereby the 1.618 trend-based fib extension, it could go very much lower, and we would have a case just like NKLA, where continues lows are being made from that point.
CCI
Looking at the CCI indicator I like to look at levels such as -200, in order to determine whenever to buy a stock. Right now, the CCI is at -233 on the 4H, which makes it a perfect indication for a retrace up.
RSI:
Looking at the 12H RSI we have it approaching the last support it made at 32.15. One could make EW based on the RSI alone, so if we break 32.15 on the 12H RSI , the bullcase is therefore gone. So look for that point of interest.
Overall the stock is on a major black Friday discount, and is a major buy after a -40% correction.
Elliot wave Theory:
QS have finished a wave 2 correction; it is now ongoing for a 3rd wave up. As long as QS maintains current price and DOES NOT go below 44 USD , the bullcase for 250 USD is still in play. If it breaks 44 USD, thereby the 1.618 trend-based fib extension, it could go very much lower, and we would have a case just like NKLA, where continues lows are being made from that point.
CCI
Looking at the CCI indicator I like to look at levels such as -200, in order to determine whenever to buy a stock. Right now, the CCI is at -233 on the 4H, which makes it a perfect indication for a retrace up.
RSI:
Looking at the 12H RSI we have it approaching the last support it made at 32.15. One could make EW based on the RSI alone, so if we break 32.15 on the 12H RSI , the bullcase is therefore gone. So look for that point of interest.
Overall the stock is on a major black Friday discount, and is a major buy after a -40% correction.
Comment:
QS is still a good buy for those who didn't enter it yet. For reference it should correct to about 56-54, before it goes up.
Comment:
Qs is now in the buyzone, per my earlier comment. Now would be a good time to double down on it
Comment:
The above subwave count is invalidated. But the overall long term trend is still valid. I still stand by what i said previously that it wont go below 40. What did happen now which i very much like to see off a potential bottom, is a gap fill of previous historic data, which we just had, and a huge 4H candle with alot of volume. This should be a giant indicator that this was a potential bottom.
Comment:
42 is the last bounce level for QS, this is either the level where its going to go up, or it's going to continue further down.
I would place a SL at 41.
I would place a SL at 41.
Comment:
Nailed out!
QS is now 30% up today. We are set. I will expect some retrace the coming week, followed by an extreme move upwards. I'll keep this updated.
QS is now 30% up today. We are set. I will expect some retrace the coming week, followed by an extreme move upwards. I'll keep this updated.
Comment:
QS should bounce off trendline here.
Comments
They don't mass produce yet. Highly over valued stock! They will start selling their bateries in 2025.
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@jlfin2006, This is technology in incubation for the past 10 years and they have what no one else claims to have. if they succeed, its going to be revolutionary and thats what people are counted it on for the last month's price raise. IMHO it will take time but it will steadily go higher from here on.
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extremely good analysis in detail, thank you bud. What do you see QS after today's price action?
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@LukeSkywalker, what a beautiful trendline..you are a master! I tried to play the chart but never thought of doing trendline like you did...let's hope this is it for QS for her ship to moon!
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@LukeSkywalker, we are at a very critical price level @ 48.80. If it goes below and close it will invalidate wave 4...it has a very high probability to complete wave 4 today and start wave 5!
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Should bounce here, this is not going below 40.