QS Why I'm Not Bullish Or BearishHello fellow traders and investors, QS has been on my watchlist for a while now since it offers a great ROI if it makes a full recovery. I am going to explain why I am not Bullish or Bearish at this moment.
Technical Analysis:
The Rsi is currently showing that QS is more to the overbought side.
The trendlines are showing that QS is at a critical point if it breaks above it could potentially rally however if the trendline poses as resistance it will most likely pullback.
Why I'm Not Going To Take A Trade:
If QS pushes above the trendline it will be overbought which means it's at risk of a pullback so, in my opinion, QS isn't a good deal right now.
Anyway hope you enjoyed this quick analysis and comment on what you think, have a great day.
QS trade ideas
QSSHORT-TERM: This is an updated look at the mid-term trade on QS. The daily hidden bullish divergence is still developing, but the 30min is showing a falling wedge that backtests the previous one, an inverse head and shoulders, and hidden bullish divergence, all at the same area. Please view the daily chart as well to see the macro. (Not financial advice)
QS potential buy opportunity The daily chart shows the price action moving between the 25smma and the 50smma. The 50smma should act as support, the logic behind this trade is to enter at the 50smma and look for a break out, or at least a good entry since sideways movement could also be expected. Keep in mind that this is a very speculative, scientific driven investment involving complex physics like solid fluid states of matter and the use of these materials to drive technology forward. This company though it just had a major breakthrough it still may be many years from real production. Another case for a guy is an acquisition but a large automaker.
With that being said on close examination of the ev market, many tickets are exhibiting signals for a potential breakout. This may mean the entire market may be ready to rally as its predicted that has power cars will become a liability rather than an asset for automakers.
Singh says that QuantumScape’s battery is the kind of step change in performance that will push EVs into the mainstream. He’s not the only one who thinks so. The company counts Bill Gates and Vinod Khosla among its investors, and several battery barons, such as Tesla cofounder J. B. Straubel, sit on its board of directors.
$QS DailyQS reports ER next week and it finds itself in a strong swing position, ready to test ATH's by the end of March/beginning of April, based on the length that it took to reach ATHs from the lowest point back in October. Stop loss below C wave or wave 2 on the daily, since that would invalidate the trend.