- QS stock price has surged by 9% as it gets support inside an interesting parallel channel over the daily time frame chart.
- QS Share price has recovered above 20-EMA and is now preparing for 50, 100 and 200-days Daily Moving Average as soon as it register’s its breakout.
- American business QuantumScape creates solid state lithium metal batteries for electric vehicles.
EV batteries startup QuantumScape Corporation’s QS stock price has surged by 9% as soon as Monday’s trading session starts and is currently trading inside an interesting channel. QS share price has been declining through a descending parallel channel since August 2022, over the daily time frame chart. However, QS share price is currently trading towards the upper trendline of the declining parallel channel to register its breakout from the declining channel. QS shares are also owned by big names like Bill Gates and Volkswagen.
QS stock price was at $6.17 and has gained 9.40% of its market capitalization in the day’s trading session. However, trading volume is still below average and needs to grow for QS share price to surge towards the upper trendline of the declining parallel channel over the daily time frame chart.
QS stock price has been declining through a descending parallel channel and has now gained the upside momentum over the daily chart. However, volume change is still below average and needs to grow for QS share price to register its breakout. Meanwhile, QS Share price has recovered above 20-EMA and is now preparing for 50, 100 and 200-days Daily Moving Average as soon as it register’s its breakout.
Will QS Stock Price Break out?
QS stock price has been trading inside a descending parallel channel since August 2022 and got support at $5.30 and is aiming to register its breakout. Technical indicators suggest strong uptrend momentum of QS share price over the daily time frame chart.
Relative strength index showcases the upside trend of QS stock price. RIS is at 50 and is breaking out of neutrality. MACD exhibits strong uptrend momentum of QS share price. The MACD line is way ahead of the signal line after a positive crossover. Investors in QS share price need to wait for share price to sustain at the verge of the declining parallel channel.
Summary
EV batteries startup QuantumScape Corporation’s QS stock price has surged by 9% as soon as Monday’s trading session starts and is currently trading inside an interesting channel. QS share price has been declining through a descending parallel channel since August 2022, over the daily time frame chart. However, volume change is still below average and needs to grow for QS share price to register its breakout. Investors in QS share price need to wait for share price to sustain at the verge of the declining parallel channel.
Technical Levels
Support Levels: $5.30 and $5.00
Resistance Levels: $6.75 and $8.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading any assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/01/09/ev-batteries-startup-quantumscape-corporation-nyseqs-buying-opportunity-qs-stock-price-is-up-by-9/