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Quantumscape Corp (NYSE: QS) beats the Q4 EPS estimates by 12.75% - 2
Amalgamated Bank buys 1890 shares of Quantumscape Corp - 3
NYSE: QS stock price down by 11% on the weekly basis and rejected the 200 day EMA
Quantumscape Corp (NYSE: QS) stock price has attempted to break out of the 200 day EMA to reverse the positional trend in the direction of bulls but market sentiment turned negative and QS bulls failed to hold the higher levels.
According to the most recent SEC filings, Amalgamated Bank had grew its stake by 4.3% in the third quarter after acquiring an additional 1890 shares during the period. Amalgamated Bank’s holdings in QuantumScape were worth $386,000 at the end of the most recent reporting period. In the previous session NYSE: QS stock price closed at $9.08 with the intraday loss of 5.91% and market cap stood at $3.958B
Will Quantumscape stock price recover in coming months?
Quantumscape Corp (NYSE: QS) stock price is in short term uptrend and rising upward by forming higher high swings but it seems like bull traps are planted on the higher levels and it will be not easy for the buyers to continue the upward momentum. Recently, QS stock prices shot up 32.29% on the intraday basis when the company succeeded to beat the Q4 EPS estimates which has created a positive hope for the long term investors but unfortunately prices did not get the follow up momentum and lost all its previous gains.
In the mid of January, Quantumscape bulls have managed to pushed the price above the 50 day EMA which shows the initial signs of the short term trend reversal and slowly and steady prices rallied 68% approx in a short span of time but the 200 day EMA(green) turn out to be strong hurdle for the bulls and prices faced strong rejection form the $12.00 hurdle level which indicates that the bears are still active at the higher levels.
On the other hand, Quantumscape stock price is approaching the support zone at $8.00 level and if overall market sentiment improves then we might again see a short term rebound in the QS stock. The technical indicators of stock like MACD have generated negative crossover indicating bearishness to continue for some more time whereas the RSI at 51 denotes the balance between bullish and bearish positions.
Summary
Quantumscape Corp (NYSE: QS) stock price is reversing down after getting rejection from the 200 day EMA shows that the positional trend is still in the bear grip and prices are expected to see more downside in coming days. However, If overall market sentiment improves then we might see some short term bounce back from the support levels mentioned below.
Technical levels
Resistance levels : $12.00 and $14.00
Support levels : $8.00 and $5.16
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 crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/02/26/quantumscape-qs-stock-lost-11-but-institutions-still-bullish/