QS broke strongly out of a base formation on 8 Nov and its volume continued to be strong in the past few days. It made a classic attempt to retest the breakup leve of 32.45 shortly after the initial breakup before resuming another upward thrust yesterday. This established that the horizontal "resistence" at 32.45 has now turned "support".
A chart breaking out of such a base pattern will have good odds of sustaining its uptrend for a while. QS is still in early stage yet so let's how how far it can go!
Protect profits with trailing stops. However it can be volatile % wise for stocks below $100 (12-15% short term pullbacks is possible) hence manage your trade size accordingly to withstand such volatility.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade
A chart breaking out of such a base pattern will have good odds of sustaining its uptrend for a while. QS is still in early stage yet so let's how how far it can go!
Protect profits with trailing stops. However it can be volatile % wise for stocks below $100 (12-15% short term pullbacks is possible) hence manage your trade size accordingly to withstand such volatility.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade
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