$QBTS Breakdown Targets $8 While $NAVN and $BRZE Set Up Key Levels
Market divergence continues.
D-Wave Quantum Inc. ($QBTS) is breaking down with further downside risk, while Navan, Inc. ($NAVN) shows a clearer upside path.
Strength is emerging in SonicShares Global Shipping ETF ($BOAT), while Braze, Inc. ($BRZE) waits for a breakout.
1. $D-Wave Quantum Inc.(QBTS)$
Bearish Head & Shoulders Breakdown in Progress
After losing the $17 consolidation with a series of lower highs into mid-March, $QBTS broke lower on 18th march, along with a 10-MA rejection last wednesday, slipping below $13 today. In the meantime, $QTUM ETF just lost its 200-MA today cleanly, closing near day low.
The projected move of this 9-month classical head & shoulders pattern points toward the $8 region.
Market Cap $5.1B | ADR: 6.6% | Avg $ Volume: $351M
2. $Navan, Inc.(NAVN)$
A Clear Path of Least Resistance
yes I would, given $NAVN is a play for new IPO with a clear earnings trajectory. This is how I’d view the path of least resistance on the daily timeframe.
Market Cap $2.9B | ADR: 9% | Avg $ Volume: $29.5M
3. $SonicShares Global Shipping ETF(BOAT)$
Relative Strength Group
When you zoom in and focus on top down approach via relative strength industry groups first without factoring in the broader index, you’d be surprised how weak the rest of the market has been throughout March.
4. $Braze, Inc.(BRZE)$
This is $BRZE on the weekly chart, mapped with each quarterly earnings report and YoY growth in earnings/sales. Very consistent double digit earnings and sales growth. There have been some strong reactions, but they’ve been short-lived especially if you are on a trailing stop strategy to scale out on profit.
This stock basically can’t do much until it breaks out of its IPO downtrend line. I got an alert set there
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