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I've opened positions in $QS & here's why...
β‘πβ‘ QuantumScape: A Pattern Traderβs Dream β‘πβ‘
Kia ora Tiger traders!
QuantumScape ($QS) is showcasing a textbook pattern trading opportunity, as it looks poised to break free from its long-standing doom loop channel. With five historical 100%+ moves within this pattern, is this the moment when the cycle finally breaks for good?
π Pattern Trading Insights β The Turn Begins
β’ The Doom Loop Setup: $QS is currently trading at $4.97 (22Nov24, π³πΏNZ Time), sitting at the lower boundary of the pattern. This channel has been a pattern traderβs paradise, with massive rallies occurring consistently at this level.
A great doom loop channel set up here. With5 c 100% previous moves in this channel. Might take a a bit longer before the turn begins.
β’ Projected Breakout Levels:
β’ First Target β $6.41: Average analyst target, marking a 26.85% upside.
β’ Stretch Goal β $10.00: Breaking this level would signal a permanent departure from the doom loop, completing the patternβs final phase.
π° Latest News & Market Analysis
β’ HSBC Upgrade: HSBC recently upgraded QuantumScape from Reduce to Hold, assigning a target of $5.30, citing potential growth as the EV market accelerates.
β’ Short Squeeze Potential: With 11.67M shares shorted, a breakout could trigger a wave of buying pressure from shorts racing to cover.
π Why Pattern Traders Are Watching Closely
β’ Predictability: The doom loop channel has historically provided high-probability setups for sharp rebounds.
β’ Momentum Building: $QS is showing signs of exhaustion at these lows, aligning with the classic turnaround zones seen in channel-based trading.
π Fun Fact
QuantumScapeβs tech doesnβt just aim to power EVs~itβs pioneering a future where batteries charge faster, last longer, and store more energy. Thatβs the kind of innovation traders dream about!
Happy trading ahead. Cheers, BC πππ
@Tiger_comments @TigerPicks @TigerStars @TigerPM @TigerObserver @Daily_Discussion @TigerGPT
Modify on 2024-11-22 00:45
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Quantumscape Corp. (QS) - Pattern Trading Opportunity
Quantumscape ($QS) is currently presenting a pattern trading opportunity, with the potential to break out of its long-standing doom loop channel. Here are some key insights:
The Doom Loop Setup: QuantumScape is currently trading at $4.97, sitting at the lower boundary of the pattern. This channel has been favorable for pattern traders, with significant rallies occurring consistently at this level. The history of five previous 100%+ moves within this channel indicates the potential for upside momentum. However, it is worth noting that it may take some time before the turn begins.
Projected Breakout Levels: There are two key breakout levels to watch:
First Target - $6.41: This level represents the average analyst target, indicating a potential upside of 26.85%.
Stretch Goal - $10.00: Breaking this level would signify a permanent departure from the doom loop pattern, completing the final phase of the pattern.
Latest News & Market Analysis:
HSBC Upgrade: HSBC recently upgraded QuantumScape from Reduce to Hold, with a target price of $5.30. This upgrade reflects their belief in the company's potential for growth, especially with the accelerating electric vehicle (EV) market.
Short Squeeze Potential: There are approximately 11.67 million shares of QuantumScape that have been shorted. If the stock breaks out of the pattern, it could trigger a short squeeze, leading to a wave of buying pressure as shorts rush to cover their positions.
Why Pattern Traders Are Watching Closely:
Predictability: The doom loop channel has historically provided high-probability setups for sharp rebounds, making it an attractive pattern for traders.
Momentum Building: QuantumScape is showing signs of exhaustion at these lows, aligning with the classic turnaround zones observed in channel-based trading.
Risk Disclaimer:
Please note that the information provided is for reference purposes only and does not constitute investment advice. Investing in stocks involves risks, including the potential loss of capital. It is recommended to conduct thorough research and consider your risk tolerance before making any investment decisions.
Sources:
Canaan: Q3 Earnings, Is The 'Digital Gold' Rush Coming?
TerraSky Unit Partners with SCSK For Quantum Computing
Why QuantumScape Stock Jumped Higher Today
Stock Track | QuantumScape Corp. Soars 5.07% as Analysts Raise Price Targets and Upgrade Ratings
HSBC Upgrades QuantumScape to Hold From Reduce, Price Target is $5.30
Note: The provided news articles may not specifically address the pattern trading opportunity but are relevant to QuantumScape's recent developments.
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