D-Wave Quantum (QBTS) soared Tuesday after the company announced the release 🐼of a quantum computing system it says can solve problems beyond the capabilities of classical computers.

The company said its Advantage2 system increases energy scale by 40% and reduces noise by 75%, which results in higher-quality outputs for solving complex calculations. The company added that the technology marks a significant milestone not just for D-Wave, but for the 澳洲幸运5开奖号码历史查询:quantum computing industry as a whole.

D-Wave shares jumped 26% to $16.56 on Tuesday. The stock has nearly doubled since the start of the year and gained more than 1,100% over the past 12 months, boosted by a 509% surgeไ in t🀅he company’s first quarter revenue and expec🍰tations that quantum computing will transform a wide range of 🌊industries.

Below, we break down the 澳洲幸运5开奖号码历史查询:technicals on D-Wave’s 澳洲幸运5开奖号码历史查询:weekly chart and idღentify major prಌice levels worth watching out for.

Ascending Triangle Breakout

D-Wave shares have staged a decisive breakout above the top trendline of an 澳洲幸运5开奖号码历史查询:ascending triangle this week, signaling a 澳洲幸运5开奖号码历史查询:continuation of the stock’s strong⛎ uptrend that preceded the pattern. 

It’s also worth pointing out that the 澳洲幸运5开奖号码历史查询:50-day moving average sits on the verge of crossing above the 200-day MA to form a 澳洲幸运5开奖号码历史查询:golden cross – a bullish char🧜t indicator predicting higher prices. 

Moreover, above-average trading volume has accompanied the recent rally, indicating buying conviction by larger market participants, such as澳洲幸运5开奖号码历史查询: institutional investors and hedge funds. Meanwhile, the 澳洲幸运5开奖号码历史查询:relative strength index confirms bullish price momentum, though the indicator also flashes 澳洲幸运5开奖号码历史查询:overbought conditions, which could ♔lead to short-term profit taking.

Let’s use澳洲幸运5开奖号码历史查询: technical analysis to forecast two potential upside price targets to watch on D-Wave’s chart and also identify a crucial 澳洲幸运5开奖号码历史查询:support level worth monitoring during future retracements.

Chart-Based Upside Targets to Watch

Measured Move Target

Investors can apply the measured move technique by calculating the percentage change from the low to high of the ascending triangle and adding it to the pattern’s top trendline value. For example, we apply a 233.33% increase to $12, which projects a target of $40, a location on the chart where investors may decide to 澳洲幸运5开奖号码历史查询:lock in profits.

Bars Pattern Target

When applying the bars pattern tool to D-Wave’s chart, we extract the stock’s strong trending move that immediately preceded the ascending triangle and overlay it from the recent breakout point. This analysis forecasts a more bullis🐲h upside target of around $90, represen𒁃ting a near six-fold increase from Tuesday’s closing price.

Crucial Support Level Worth Monitoring

During retracements in D-Wave's stock, investors should closely monitor the $12 level. This area would likely attract strong support on a pullback to the ascending triangle’s top trendline and a range of corresponding trad🏅ing activity on the chart stretching back to early 2021.

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