QuantumScape Swing Trade: Nearing Major Support

By Gareth Soloway of In the Money Stocks

President & Chief Market Strategist at IntheMoneyStocks • Feb 1, 2021 at 2:22 PM EST

Based on the technical chart, the QuantumScape swing trade level is at $37.00. This will not be a long-term buy level as after a bounce, the stock is likely headed significantly lower to $25.00/share.

Shares of electric battery maker QuantumScape Corp (QS) have continued to fall for the last month after reaching an all-time high over $130.00/share. At a current price of near $42/share, investors are getting eager to accumulating this EV play for a swing trade bounce. Based on the technical chart, the QuantumScape swing trade level is at $37.00. Please note, this will not be a long-term buy level as after a bounce, the stock is likely headed significantly lower to $25.00/share. However, as a swing trader, this is a great setup for a bounce back to as-high-as $50/share. Look for the QuantumScape swing trade buy level to be hit as early as this week.

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