QuantumScape Corporation (NYSE: QS) roared higher today, closing up +34.92% at $7.65. After weeks of sideways trading, QS exploded on heavy volume, reigniting interest in the solid-state battery space.
Key Technical Highlights:
Big Move: QS surged from a low of $5.60 to a high of $7.71, settling near session highs.
Volume Surge: Substantial volume confirms strong buying pressure behind the breakout.
Technical Breakout: The stock decisively cleared previous consolidation levels and its short-term moving average.
Resistance Levels: Immediate resistance stands at $7.71, the new high.
Support Zones: New support forms around $6.50–$6.80, with firmer support lower near $5.00.
Increased Volatility: ATR has jumped, signaling larger intraday swings.
The Bottom Line:
QuantumScape’s powerful breakout has traders watching closely. Sustaining momentum above key resistance could fuel a further rally, but profit-taking after such a sharp run remains a risk. Solid-state battery headlines could continue driving volatility.
Disclosure: This is not financial advice. Do your own research.