Kensington Capital Acquisition Corp. [KCAC] is 96.97% higher this YTD. Is it still time to buy?

Kensington Capital Acquisition Corp. [NYSE: KCAC] surged by $5.2 during the normal trading session on Friday and reaching a high of $19.57 during the day while it closed the day at $19.50. The company report on November 13, 2020 that Kensington Capital Acquisition Corp. and QuantumScape Corporation Announce November 25, 2020 Special Meeting to Approve Business Combination.

Kensington Capital Acquisition Corp. (NYSE: KCAC) (“Kensington”) and QuantumScape Corporation (“QuantumScape”) today announced that the Special Meeting of Stockholders of Kensington (the “Special Meeting”) to approve the pending business combination between Kensington and QuantumScape is scheduled to be held on Wednesday, November 25, 2020, at 10:00 a.m., Eastern time. The Special Meeting will be completely virtual and conducted via live webcast. Holders of Kensington’s shares of Class A Common Stock and Class B Common Stock at the close of business on the record date of October 27, 2020 are entitled to notice of the virtual Special Meeting and to vote at the virtual Special Meeting. Following the proposed business combination, QuantumScape, a leader in the development of next generation solid-state lithium-metal batteries for use in electric vehicles, will be listed on the New York Stock Exchange under the new ticker symbol (“QS”).

Kensington filed its proxy statement, prospectus and information statement (the “Proxy Statement”) with the U.S. Securities and Exchange Commission (the “SEC”) and began mailing it to stockholders on November 12, 2020. The Proxy Statement is available on the SEC Filings section of Kensington’s website, as well as Kensington stockholders are encouraged to read the proxy materials, including, among other things, the reasons for Kensington’s Board of Directors’ unanimous recommendation that stockholders vote “FOR” the business combination and the other stockholder proposals set forth in the proxy materials as well as the background of the process that led to the pending business combination with QuantumScape.

The market cap for KCAC stock reached $448.50 million, with 23.00 million shares outstanding. Compared to the average trading volume of 3.52M shares, KCAC reached a trading volume of 7369014 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Kensington Capital Acquisition Corp. [KCAC]:

The Average True Range (ATR) for Kensington Capital Acquisition Corp. is set at 1.24

KCAC stock trade performance evaluation

Kensington Capital Acquisition Corp. [KCAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 37.81.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for KCAC stock in for the last two-week period is set at 75.11, with the RSI for the last a single of trading hit 86.44, and the three-weeks RSI is set at 69.92 for Kensington Capital Acquisition Corp. [KCAC]. The present Moving Average for the last 50 days of trading for this stock 15.58, while it was recorded at 15.24 for the last single week of trading.

Kensington Capital Acquisition Corp. [KCAC]: An insightful look at the core fundamentals

Kensington Capital Acquisition Corp. [KCAC]: Insider Ownership positions

41 institutional holders increased their position in Kensington Capital Acquisition Corp. [NYSE:KCAC] by around 3,083,864 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 3,083,864 shares, according to the latest SEC report filing. KCAC stock had 41 new institutional investments in for a total of 3,083,864 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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