Watch These D-Wave Quantum Price Levels as Stock Soars to Record High

D-Wave Quantum (QBTS) shares remain in focus after surging to a fresh record high yesterday following the company’s inaugural Qubits Japan 2025 quantum computing user conference.

The event provided an opportunity for D-Wave to showcase its technology to customers in the Asia Pacific, a region where it posted a 83% jump in bookings amid increasing development of quantum AI applications.

D-Wave shares were up 1% at $22.75 in recent trading early Thursday, after gaining 19% yesterday. The stock has risen about 170% since the start of 2025 and more than 2,000% over the past year. Investor sentiment has been boosted by the unveiling of the company’s newest quantum computer, known as Advantage2, along with broader optimism about potential applications of the nascent technology across multiple industries.

Below, we take a closer look at the technicals on D-Wave’s chart and identify critical price levels worth watching out for after yesterday’s jump.

Trading Range Breakout

D-Wave shares broke out from a multi-month trading range on Wednesday, laying the groundwork for a bullish continuation of the stock’s longer-term uptrend. It’s worth pointing out that the shares registered their highest volume since late May, indicating larger investors participated in yesterday’s buying.

While the breakout coincided with the relative strength index crossing into overbought territory, the indicator remains below its previous peaks, providing further room for the shares to test higher prices.

Let’s apply technical analysis to forecast how a continuation move higher may play out on D-Wave’s chart and also identify critical support levels worth eyeing during possible retracements.

How a Continuation Move Higher Could Play Out

Investors can use bars pattern analysis to project where D-Wave shares may be headed next. When applying the analysis to the stock’s chart, we extract the stock move higher in May and overlay it from the low of Wednesday’s breakout bar. This forecasts a target of around $41.30, implying 83% upside from yesterday’s closing price.

It’s also worth noting that the prior trend analyzed played out over just 11 trading days, indicating a similar move may last until early next month if price action rhymes.

Critical Support Levels Worth Eyeing

During retracements in the stock, investors should initially monitor the $20 level. This area on the chart could attract buying interest near the psychological round number and the trading range’s top trendline.

A close below this key level could see the shares fall to around $14. The price may find support in this location near the trading range’s lower trendline.

Finally, a more-significant pullback in D-Wave shares opens the door for a retest of lower support at the $11 level. Investors could look for entry points in this region near the upward sloping 200-day moving average and a horizontal line stretching back to the stock’s December peak.

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As of the date this article was written, the author does not own any of the above securities.