Big movements in D-Wave Quantum Inc. stock price on Monday moving 17.74% between high and low

The D-Wave Quantum Inc. stock price fell by -6.16% on the last day (Monday, 30th Dec 2024) from $9.91 to $9.30. During the last trading day the stock fluctuated 17.74% from a day low at $8.40 to a day high of $9.89. The price has risen in 7 of the last 10 days and is up by 86.37% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -61 million shares and in total, 57 million shares were bought and sold for approximately $528.13 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 $10.03 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 304.61% during the next 3 months and, with a 90% probability hold a price between $19.34 and $40.59 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 $8.29 and $4.38. 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). 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 27, 2024, and so far it has fallen -6.16%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

D-Wave Quantum Inc. finds support from accumulated volume at $8.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $1.49 between high and low, or 17.74%. For the last week, the stock has had daily average volatility of 20.99%.

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.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.