D-Wave Quantum Secures $100M CHIPS Act Funding
- Funding Injection: D-Wave Quantum has entered into a Letter of Intent with the U.S. Department of Commerce for $100 million in CHIPS Act funding, which is expected to significantly accelerate its quantum computing R&D efforts, particularly in its facilities in Florida and Connecticut.
- Stock Surge: Following the announcement, D-Wave's shares rose 17.9% in pre-market trading and then surged an additional 22% during regular trading, reflecting strong market confidence in the company's future, with a current market capitalization of approximately $7.14 billion.
- Technological Development Goals: The funding will support the development of a 100,000-qubit annealing system and a 10,000-qubit gate-model system, which are expected to position D-Wave at the forefront of quantum computing advancements, driving overall industry progress.
- Market Environment Support: Concurrently with D-Wave's funding announcement, the S&P 500 rose by 1.1%, the Dow Jones Industrial Average increased by 1.3%, and the Nasdaq Composite climbed 1.5%, creating a favorable market environment for high-growth technology stocks.
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Technical Analysis for FORM
Technical Sentiment Analysis for Formation Fi (FORM). As of , Formation Fi (FORM) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for FORM stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, FORM is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Formation Fi (FORM) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.168 | 0.193 | 0.213 | 0.238 | 0.259 | 0.284 | 0.305 |
| Fibonacci | 0.193 | 0.21 | 0.221 | 0.238 | 0.256 | 0.267 | 0.284 |
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