D-Wave Quantum Inc. (NASDAQ:QBTS) saw its stock decline on Wednesday amid a sector-wide selloff in quantum computing names. Market participants took profits following Tuesday’s market rally and adopted a cautious stance ahead of the Federal Reserve’s upcoming interest rate decision.
CME Group’s FedWatch tool projections show markets pricing in a 90.6% likelihood of interest rates being unchanged.
The Nasdaq is up 0.11% while the S&P 500 has gained 0.15% and technology is higher by 0.29%
D-Wave Quantum is scheduled to report third-quarter results on Nov. 10. Analysts expect a loss of 10 cents per share, narrowing from a loss of 41 cents a year earlier. Forecasts show revenue rising to $4.33 million from $3.74 million.
Asian Enterprise Expansion
D-Wave Quantum and South Korean IT provider LG CNS signed a non-binding memorandum of understanding at D-Wave’s Qubits Asia conference in Seoul to accelerate commercial quantum computing adoption across Asian enterprise markets.
The partnership combines D-Wave’s annealing quantum computing hardware with LG CNS’s mathematical optimization to transition applications from testing into commercial production.
Technical Analysis
From a trend standpoint, QBTS is still in a clear longer-term downtrend: it’s trading 12.4% below its 20-day SMA, 26.1% below its 50-day SMA, 36.4% below its 100-day SMA, and 40.1% below its 200-day SMA. That stack of moving averages overhead often acts like "layers" of resistance, meaning rallies can run into sellers before the trend truly changes.
The moving-average structure also stays bearish, with the 20-day SMA below the 50-day SMA and a death cross in March (the 50-day SMA below the 200-day SMA). On momentum, MACD is below its signal line and the histogram is negative—plain English: upside pressure is cooling, and buyers typically need a momentum turn before a durable bounce sticks.
With the stock sitting near the bottom of its 52-week range ($11.26 low versus $37.62 high), the near-term question is whether it can defend the current base. October marked the 52-week low and a recent swing low, so traders will be watching closely for either a higher low (stabilization) or a breakdown (trend continuation).
QBTS Stock Price Activity: D-Wave Quantum shares were down 3.83% at $11.66 at the time of publication on Wednesday, according to Benzinga Pro data.
Photo: T. Schneider / Shutterstock
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