Home Forex QuantumScape (QS Stock) grinding lower before higher

QuantumScape (QS Stock) grinding lower before higher

by kyngsam

Quantum scape is a developer of next-generation battery know-how. with main high-profile buyers concerned on this firm, it has the backing to turn out to be the subsequent interrupting know-how within the EV sector.  Let’s check out the corporate profile and see who has backed this firm:

“Quantum Scape was based in 2010 by Jagdeep Singh, Tim Holme, and Professor Fritz Prinz of Stanford College. In 2012, QuantumScape started working with German automaker Volkswagen. After 2018, Volkswagen invested $100 million within the firm, changing into the most important shareholder. In the identical 12 months, Volkswagen and QuantumScape introduced the institution of a joint manufacturing challenge to arrange for the mass manufacturing of solid-state batteries. In June 2020, Volkswagen made an extra $200 million funding into the corporate.  It’s also noteworthy that Invoice Gates can also be an investor in QuantumScape.

On September 3, 2020, QuantumScape introduced a merger with the special-purpose acquisition firm Kensington Capital Acquisition. Because of the merger, QuantumScape will obtain $1 billion within the financing, together with funding from Volkswagen and the Qatar Funding Authority. On the similar time, the corporate’s shares might be listed on the New York Stock Trade beneath the image QS. The transaction was accomplished in November 2020 and raised capital for the collection manufacturing of batteries.”

Let’s dig into the charts!

Quantum scape Elliott wave view

Medium time period view from the IPO through a SPAC within the fall of 2020.  This inventory took a few months earlier than the momentum kicked in.  After ((2)) set Oct 30, 2020, issues actually began to warmth up.  Wave ((3)) peaked at 87.50, rallying from ((2)) low at 11.20. After ((3)) peaked, a pointy ((4)) came about which didn’t final lengthy earlier than the surge in ((5)) came about.  In the long run, ((5)) of Crimson, I peaked at 132.73 on December 22/2020 and the inventory has been correcting ever since that point.

The present view is that the construction wants one other couple of swings decrease to finish the sequence from the height.  There is no such thing as a equal leg excessive because the 100% space would go into the damaging.  One of the best instruments to make use of now are waiting for momentum to erase the pivots and set a brand new excessive on the Crimson II low.

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