High volatility in D-Wave Quantum Inc. stock price on Monday which ended trading at $3.83

StockInvest.us, 4 weeks ago

StockInvest.us

The D-Wave Quantum Inc. stock price fell by -33.62% on the last day (Monday, 13th Jan 2025) from $5.77 to $3.83. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 32.62% from a day low at $3.74 to a day high of $4.96. The price has fallen in 7 of the last 10 days and is down by -61.31% for this period. Volume has increased on the last day by 20 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 104 million shares were bought and sold for approximately $399.37 million.

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

Given the current short-term trend, the stock is expected to rise 510.89% during the next 3 months and, with a 90% probability hold a price between $23.40 and $65.99 at the end of this 3-month period.

D-Wave Quantum Inc.

There are few to no technical positive signals at the moment. The D-Wave Quantum Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $7.74 and $5.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, January 06, 2025, and so far it has fallen -62.49%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

D-Wave Quantum Inc. finds support from accumulated volume at $3.78 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 $1.22 between high and low, or 32.62%. For the last week, the stock has had daily average volatility of 26.09%.

The D-Wave Quantum Inc. stock holds several negative signals and despite the positive trend, we believe D-Wave Quantum Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.

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