ChaseMColvin

Rising Wedge Trend Reversal Formation on QuantumScape ($QS)

NYSE:QS   QuantumScape Corporation
I have been trading stocks for roughly 2 years now and I have been learning a lot more about technical analysis and important chart patterns. This is my first published idea on Trading View so it isn't the best, and I want to get better at drawing patterns on different charts here, so I will publish my ideas so I can recieve feedback and learn from my fellow peers as well. I would love to hear any new ideas or thoughts, as here I have drawn a "classical wedge", also known as a rising wedge pattern. This typically indicates a price reversal, as you notice the uptrend slows down during the formation of the wedge I have drawn. The X marks the final breakout point in QS and the trigger point of the wedge pattern, thus resulting in a downtrend.
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