Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>QS stock price (NYSE: QS) fell 33% in the current week and eroded the previous gains.</a> </li> 
 <li> <span>2</span> <a>Quantumscape stock price displayed a speculative spike after earnings.</a> </li> 
 <li> <span>3</span> <a>QS share price dropped below the 50-day and 200-day EMA.&nbsp;</a> </li> 
</ul> 
<p>QS stock price (NYSE: QS) fell 33% in the current week and formed a bearish pattern.&nbsp;</p> 
<p>Quantumscape stock faced rejection from $14.00 and the price collapsed with a high selling volume. It shows that the previous up move was a bull trap and sellers are still dominating.&nbsp;</p> 
<p>Quantumscape Corp released its quarterly earnings on July 26, 2023. The earnings were negative and not up to analyst estimates.&nbsp;</p> 
<p>Despite that, QS stock reacted positively and prices witnessed a wild short squeeze. However, the spike is highly speculative and prices triggered a panic sell-off.&nbsp;</p> 
<p>At the beginning of July, Quantumscape stock broke out of the $8.00 hurdle and turned the short-term trend in an upward direction.&nbsp;</p> 
<p>Later, slowly and steadily prices recovered 60% approx in a short period of time. The short-term rally halted near $14.00 and prices again reverted down.&nbsp;</p> 
<p>QS stock dropped below the 50-day and 200-day showing the trend has reversed down. Quantumscape <a href="https://www.thecoinrepublic.com/2023/02/26/quantumscape-qs-stock-lost-11-but-institutions-still-bullish/" target="_blank" rel="noopener noreferrer nofollow">stock price</a> closed the previous session at $8.81 with an intraday decline of -20.70%. The market capitalization stands at $3.94 Billion.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-will-qs-stock-price-decline-further-strong"><strong>Will QS stock price decline further?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/MkWiihGazq-sg1Rqwma5D9Yb8LtfmQozBAhqfFzwAqb4ouboTkYj6m7ciKn53snuPeqwbavZRiWBXhcLJxsn2-p3mfAT2s87DgyqWr3y47Irf3UPNuOeElvyYUfOHhNzng4gSubIV8KCr9gIQU5EcA" alt=""> 
  <figcaption class="wp-element-caption">
    NYSE: QS daily chart by <a href="https://www.tradingview.com/x/ylzStEaQ/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>QS stock price (NYSE: QS) is down by another 10% in the after-hours session. The prices are expected to open a gap down near $7.88. If the sell-off continues then the $7.00 support level will be at risk.&nbsp;</p> 
<p>Quantumscape stock seems to be in a bear grip and no signs of recovery are visible. Short-term up moves not sustaining on higher levels show the dominance of sellers.&nbsp;</p> 
<p>Till QS shares are below $14.00 the price is likely to trade with a bearish bias. The technical analysis suggests <a href="https://www.thecoinrepublic.com/2023/02/26/quantumscape-qs-stock-lost-11-but-institutions-still-bullish/" target="_blank" rel="noopener noreferrer nofollow">QS stock</a> is in a strong downtrend and the possibility of more downside remains high.</p> 
<h3 class="wp-block-heading" id="strong-quantumscape-stock-eroded-the-previous-gains-strong"><strong>Quantumscape stock eroded the previous gains</strong></h3>  
<div class="tradingview-widget-container">
  &nbsp;&nbsp; 
 <div id="tradingview_60238"></div> &nbsp;&nbsp; 
 <div class="tradingview-widget-copyright"> <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a> 
 </div> &nbsp;&nbsp; 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp; 
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": 950,

  "height": 500,

  "symbol": "NYSE:QS",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "dark",

  "style": "1",

  "locale": "en",

  "toolbar_bg": "#f1f3f6",

  "enable_publishing": true,

  "allow_symbol_change": true,

  "studies": [

    "STD;Supertrend"

  ],

  "container_id": "tradingview_60238"

}

  );

  </script> 
</div>  
<p>Quantumscape stock eroded the previous gains and formed a bearish engulfing candle. The EMA curve tried to display a golden crossover but the gap down will disappoint the expectation.&nbsp;</p> 
<p>The MACD curve generated a fresh negative crossover indicating bearishness is likely to continue in the coming months. The RSI curve reversed down from the overbought territory and dropped below 40 denotes weakness.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>QS stock price (NYSE: QS) faced rejection from $14.00 and witnessed a panic sell-off. The technical analysis suggests Quantumscape stock is inside the bear grip and more downside is possible.</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $12.00 and $14.00</li> 
 <li>Support levels: $7.92 and $5.12</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

QS Stock Price Tumble 33%; Will Quantumscape stock hit new lows?

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