The price of D-Wave Quantum Inc. (QBTS) inched slightly higher in its latest intraday trading, as the stock attempts to recover part of its previous losses. At the same time, it is trying to unwind some of the clear oversold conditions shown by RSI indicators. However, a steep short-term corrective downtrend continues to dominate, with persistent negative pressure coming from trading below the 50-day simple moving average, reducing the stocks chances of a sustained recovery in the near term.

Therefore, we expect the stock to decline in the upcoming sessions, as long as it remains below the resistance level of $26.40, targeting the first support at $20.50.

Todays price forecast: Bearish