Big movements in D-Wave Quantum Inc. stock price on Thursday moving 14.21% between high and low

StockInvest.us, 2 weeks ago

StockInvest.us

The D-Wave Quantum Inc. stock price fell by -3.52% on the last day (Thursday, 23rd Jan 2025) from $6.25 to $6.03. During the last trading day the stock fluctuated 14.21% from a day low at $5.91 to a day high of $6.75. The price has fallen in 6 of the last 10 days and is down by -36.86% for this period. 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 -40 million shares and in total, 86 million shares were bought and sold for approximately $516.74 million.

On Jan 14, 2025, it was reported that B. Riley gave QBTS a "Buy" grade with a "hold" action.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $4.78 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 226.00% during the next 3 months and, with a 90% probability hold a price between $15.57 and $38.13 at the end of this 3-month period.

D-Wave Quantum Inc.

There are mixed signals in the stock today. The D-Wave Quantum Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $6.43. On a fall, the stock will find some support from the short-term average at $5.74. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, January 06, 2025, and so far it has fallen -40.94%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $5.81 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 $0.84 between high and low, or 14.21%. For the last week, the stock has had daily average volatility of 15.63%.

D-Wave Quantum Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Check full D-Wave Quantum Inc. forecast and analysis here.