High volatility in D-Wave Quantum Inc. stock price on Friday which ended trading at $6.09

The D-Wave Quantum Inc. stock price gained 1.00% on the last trading day (Friday, 24th Jan 2025), rising from $6.03 to $6.09. During the last trading day the stock fluctuated 16.86% from a day low at $6.08 to a day high of $7.11. The price has been going up and down for this period, and there has been a -0.16% loss 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, 52 million more shares were traded than the day before. In total, 137 million shares were bought and sold for approximately $836.24 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 $4.89 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 206.39% during the next 3 months and, with a 90% probability hold a price between $14.98 and $36.15 at the end of this 3-month period.

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 $6.53. On a fall, the stock will find some support from the short-term average at $5.93. 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 -40.35%. 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 is rising along with the price. This is considered to be a good technical signal.

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 $1.03 between high and low, or 16.86%. For the last week, the stock has had daily average volatility of 16.02%.

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.