QUANTUMSCAPE IS APPROACHING MAJOR RESISTANCE AT $40
QuantumScape Corp. (QS) is approaching a major resistance line at $40 , If the stock manages to break through this level, a breakout is expected! During the first few months of the year, QS formed an important level to watch at the $40 (blue) mark, as that level had provided both support and resistance. QS looks like it’s on its way back up to that level again, and that could bring another test of that $40 resistance.
If $40 is broken, next price targets will be as shown on the chart. For the believers of QS, now is the good time to buy. We can expect a pullback at $32.76 (200SMA) to 336S before it tests the $40 resistance again and will finally break it. For investors, who want safe trades, entry point is above $40.
Please do your own DDs before entering the trade.
"QuantumScape Corp. (QS) is engaged in development of next generation solid-state lithium-metal batteries for use in electric vehicles. The company has well-known investors including Bill Gates and Volkswagen (VWAGY). The company's solid-state lithium-metal batteries are expected to have significant advantages over current lithium batteries.
QS has developed a ceramic material that can be used as a solid-state separator in a battery cell. This can significantly reduce charging times and improve performance and fire safety. The firm recently announced that independent third-party tests verified the performance of its batteries.
As of the end of September, the company had $1.5 billion in cash, which compares favorably to only $66 million in long-term debt. Analyst forecast earnings to soar 95.4% year over year in the current quarter."
If $40 is broken, next price targets will be as shown on the chart. For the believers of QS, now is the good time to buy. We can expect a pullback at $32.76 (200SMA) to 336S before it tests the $40 resistance again and will finally break it. For investors, who want safe trades, entry point is above $40.
Please do your own DDs before entering the trade.
"QuantumScape Corp. (QS) is engaged in development of next generation solid-state lithium-metal batteries for use in electric vehicles. The company has well-known investors including Bill Gates and Volkswagen (VWAGY). The company's solid-state lithium-metal batteries are expected to have significant advantages over current lithium batteries.
QS has developed a ceramic material that can be used as a solid-state separator in a battery cell. This can significantly reduce charging times and improve performance and fire safety. The firm recently announced that independent third-party tests verified the performance of its batteries.
As of the end of September, the company had $1.5 billion in cash, which compares favorably to only $66 million in long-term debt. Analyst forecast earnings to soar 95.4% year over year in the current quarter."
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