Could Define the Next Move.
Daily Chart Watch: Can D-Wave Quantum Reignite Its Rally?
Let’s break down this daily chart of D-Wave Quantum Inc. (QBTS) step by step:
🧠 Technical Analysis – Daily Timeframe (1D)
📐 Parallel Channel (Long-Term Bullish Structure)
QBTS is trading inside a well-defined ascending parallel channel stretching from late Q1 2023 to now.
Price recently hit the upper boundary around $12.50–$13.00 and has since been retracing.
Currently, it's hovering near the midline of the channel and testing a key support area near $5.50–$4.38 (Green zone) "Triangle".
🟦 Key Takeaway:
As long as price stays within this channel and respects the midline, the overall trend remains bullish.
📉 Support/Resistance Levels
Support Zone: ~$6.40 (recent swing low + channel midline)
Resistance Zone: ~$11.95 (channel top & double top zone)
A break below the (Risk Zone) "Brown Square" in conflict with the green zone "triangle" $5.50-$4.38 could send it toward the lower channel support ($3.75–$4.00 area), which aligns with the 200 MA line.
📊 200-Day Moving Average (Blue MA)
Currently at $3.74, it's lagging below price, showing that the uptrend is still intact.
However, price pulling back to the MA would mean a deep correction (-60–65%), so that’s a key risk to watch.
📉 RSI (Relative Strength Index)
RSI is currently at 42.76, drifting down from recent highs. (at the time TA was made)
It's not yet oversold, which implies there’s still room to fall before bargain hunters potentially step in.
No bullish divergence yet, but if RSI approaches 30 while price holds the channel midline — that could be a reversal signal.
🔮 Possible Scenarios (Near-Term Outlook)
🔼 Bullish Case
If $5.50 holds as support and we see bullish momentum (e.g. bounce + rising RSI):
Target 1: $8.00
Target 2: Retest $11.95 range (channel resistance)
🔽 Bearish Case
If price breaks below $5.50 with strong volume:
Target 1: $4.38 (minor horizontal support)
Target 2: $3.75 (channel support + 200-day MA)
RSI dropping toward 30 would likely coincide with this scenario.
✅ Summary
Factor Signal Interpretation
Parallel Channel Bullish Still intact, holding midline
RSI (43.15) Bearish bias Momentum weakening
Price Structure Neutral In retracement; must hold $6.40
MA (Support ~3.74) Bullish Trend intact unless major drop
🧭 Overall Bias:
Short-term neutral-to-bearish, but long-term bullish as long as price holds within the rising channel.
Daily Chart Watch: Can D-Wave Quantum Reignite Its Rally?
Let’s break down this daily chart of D-Wave Quantum Inc. (QBTS) step by step:
🧠 Technical Analysis – Daily Timeframe (1D)
📐 Parallel Channel (Long-Term Bullish Structure)
QBTS is trading inside a well-defined ascending parallel channel stretching from late Q1 2023 to now.
Price recently hit the upper boundary around $12.50–$13.00 and has since been retracing.
Currently, it's hovering near the midline of the channel and testing a key support area near $5.50–$4.38 (Green zone) "Triangle".
🟦 Key Takeaway:
As long as price stays within this channel and respects the midline, the overall trend remains bullish.
📉 Support/Resistance Levels
Support Zone: ~$6.40 (recent swing low + channel midline)
Resistance Zone: ~$11.95 (channel top & double top zone)
A break below the (Risk Zone) "Brown Square" in conflict with the green zone "triangle" $5.50-$4.38 could send it toward the lower channel support ($3.75–$4.00 area), which aligns with the 200 MA line.
📊 200-Day Moving Average (Blue MA)
Currently at $3.74, it's lagging below price, showing that the uptrend is still intact.
However, price pulling back to the MA would mean a deep correction (-60–65%), so that’s a key risk to watch.
📉 RSI (Relative Strength Index)
RSI is currently at 42.76, drifting down from recent highs. (at the time TA was made)
It's not yet oversold, which implies there’s still room to fall before bargain hunters potentially step in.
No bullish divergence yet, but if RSI approaches 30 while price holds the channel midline — that could be a reversal signal.
🔮 Possible Scenarios (Near-Term Outlook)
🔼 Bullish Case
If $5.50 holds as support and we see bullish momentum (e.g. bounce + rising RSI):
Target 1: $8.00
Target 2: Retest $11.95 range (channel resistance)
🔽 Bearish Case
If price breaks below $5.50 with strong volume:
Target 1: $4.38 (minor horizontal support)
Target 2: $3.75 (channel support + 200-day MA)
RSI dropping toward 30 would likely coincide with this scenario.
✅ Summary
Factor Signal Interpretation
Parallel Channel Bullish Still intact, holding midline
RSI (43.15) Bearish bias Momentum weakening
Price Structure Neutral In retracement; must hold $6.40
MA (Support ~3.74) Bullish Trend intact unless major drop
🧭 Overall Bias:
Short-term neutral-to-bearish, but long-term bullish as long as price holds within the rising channel.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.