QuantumScape (QS) has entered oversold territory with an RSI of 29.9, indicating potential exhaustion from recent selling pressure. The stock is trading at $4.27, near its 52-week low of $4.26. This suggests a possible reversal or stabilization in the short term.
The Fibonacci levels indicate resistance at $5.03 (R1) and $5.29 (R2), with support at $3.93 (S1) and $3.51 (S2). The pivot point is at $4.61, which could act as a key level for price action.
Recent news highlights QS's oversold conditions and potential for a bullish reversal. Analysts have mixed opinions, with one Strong Buy rating and seven Holds, suggesting cautious optimism. The company is preparing for higher-volume manufacturing and has reduced capital expenditures, which could improve its financial outlook.
Based on the oversold conditions and potential for a technical bounce, the stock is expected to rise to $4.80 in the next trading week. The improving RSI and proximity to support levels suggest a buy recommendation, but with caution due to broader market risks.
Recommendation: Buy QS with a target price of $4.80.
The price of QS is predicted to go up -3.87%, based on the high correlation periods with MHLD. The similarity of these two price pattern on the periods is 94.98%.
QS
MHLD
Year
QS Price Forecast($)
Potential Return(%)
2025
7.500
33.690
2026
5.260
12.150
2027
6.190
31.980
2028
15.000
219.830
2029
7.120
51.810
2030
7.810
66.520
HSBC
2024-11-19
Price Target
$5.3
Upside
+7.07%