Quantumscape (QS)the main commercial state battery developer, has had a rally of nine consecutive sessions. This has led the battery manufacturer to a new three years, with shares reaching $ 15.03 in Friday afternoon session.
Quantumscape continues to benefit from the news about its late -generation collector process reaching production objectives, which will allow the company to start marketing its battery technology in the next two years.
The market in general has seen investors heading towards the departure after a positive week that saw many new maximums in the indices. The S&P 500 has won more than half a percentage point this weekwhile Nasdaq Composite has added another gain of 1.4% over five sessions. However, the Nasdaq Composite was the only one of the three main indexes to advance on Friday, in this case 0.05%.
Construction permits and housing beginnings both exceeded expectations on Friday morning, and the results of the Michigan University Survey showed that consumer inflation expectations fell dramatically.
Shareholders are excited by the next quarterly business capital update on Wednesday, July 23, where the market expects the address to present an updated road map for marketing perspectives.
Quantumscape technical analysis
Quantumscape shares were negotiated above $ 15 per share on Friday since May 2022. Although QS shares have seen many recoveries in the last three years, this is the longest and louder until now. Quantumscape shares have risen for three consecutive weeks after the June 24 announcement of their separator process, reducing production speeds up to 25 times.
QS weekly graphics
The daily graph shows below that the actions of QS have reached the level of fibonacci setback of 261.8% at $ 14.06 and seemed to use it on Friday as a support for much of the session. The next upward objective is the FIBO of 361.8% in $ 17.98 and the FIBO of 423.6% in $ 20.41.
In the past, Quantumscape’s recoveries have been ephemeral and have not resulted in higher consolidation areas, but this recovery feels and looks different. A support point could be the old level of resistance about 100% Fibonacci in $ 7.72. Another is 161.8% FIBO at 10.14.
QS Actions Daily Chart
Source: Fx Street

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.