Big movements in D-Wave Quantum Inc. stock price on Friday moving 37.20% between high and low

The D-Wave Quantum Inc. stock price gained 27.70% on the last trading day (Friday, 13th Dec 2024), rising from $3.91 to $4.99. During the last trading day the stock fluctuated 37.20% from a day low at $3.71 to a day high of $5.09. The price has been going up and down for this period, and there has been a 65.23% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 21 million more shares were traded than the day before. In total, 79 million shares were bought and sold for approximately $394.21 million.

On Jul 24, 2024, it was reported that B. Riley gave QBTS a "Buy" grade with a "initialise" action.

The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $5.31 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 149.50% during the next 3 months and, with a 90% probability hold a price between $5.86 and $13.25 at the end of this 3-month period.

The D-Wave Quantum Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $4.45 and $2.34. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, December 06, 2024, and so far it has fallen -1.38%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $4.68 and $4.65.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, D-Wave Quantum Inc. finds support just below today's level at $4.68. If this is broken, then the next support from accumulated volume will be at $4.65 and $4.09.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.38 between high and low, or 37.20%. For the last week, the stock has had daily average volatility of 25.60%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for D-Wave Quantum Inc. stock to perform well in the short-term.