High volatility in D-Wave Quantum Inc. stock price on Friday which ended trading at $6.44
StockInvest.us, 1 month ago
The D-Wave Quantum Inc. stock price gained 1.10% on the last trading day (Friday, 20th Dec 2024), rising from $6.37 to $6.44. During the last trading day the stock fluctuated 40.71% from a day low at $5.60 to a day high of $7.88. The price has risen in 6 of the last 10 days and is up by 27.27% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 123 million shares were bought and sold for approximately $789.78 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 middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 135.18% during the next 3 months and, with a 90% probability hold a price between $7.80 and $21.39 at the end of this 3-month period.
The D-Wave Quantum Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $6.60. On a fall, the stock will find some support from the long-term average at approximately $3.25. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, December 18, 2024, and so far it has fallen -27.89%. Further fall is indicated until a new bottom pivot has been found.
D-Wave Quantum Inc. finds support from accumulated volume at $6.37 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 $2.28 between high and low, or 40.71%. For the last week, the stock has had daily average volatility of 44.01%.
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.
Check full D-Wave Quantum Inc. forecast and analysis here.