QuantumScape’s Stock Surge: Is This the Long-Awaited Breakout That Could Rewrite EV Investing?
QS weekly chart
The daily chart below shows that QS shares have reached the 261.8% Fibonacci retracement level at $14.06 and appeared to use it on Friday as support for much of the session. The next upside target is the 361.8% Fibo at $17.98 and the 423.6% Fibo at $20.41.
In the past, QuantumScape’s rallies have been short-lived and haven’t resulted in any higher consolidation zones, but this rally feels and looks different. One point of support might be the former resistance level near the 100% Fibonacci placeholder at $7.72. Another is the 161.8% Fibo at $10.14.
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