Sunday Prep 10/31 - $QS Whole EV Sector is Hot

This idea was on the #SundayPrep back in late September when we had the big volume and breakout. Even though that move eventually got stuffed, it never really broke down. Instead it continued to make higher lows and build the base. Now we are breaking again and the whole sector is hot. With Tesla and Lucid sparking life to the EVs, I’m looking to buy any weak open on this name. With Monday being a new week AND month, I’ve put the new pivots on the chart preemptively so that we can plan accordingly. I love how the weekly and monthly line up with fib levels as well as the recent daily level on the chart. And flush into low 27s/high 26s will have my interest. If this acts well, I think a piece can be looked at as a swing potentially with the first target area being 32s.

Comment:

CORRECTION: The $32 target quoted on the $QS Idea is for long term (swing idea). First target would be Friday's highs (intraday).