High volatility in D-Wave Quantum Inc. stock price on Thursday which ended trading at $9.61

The D-Wave Quantum Inc. stock price gained 14.40% on the last trading day (Thursday, 2nd Jan 2025), rising from $8.40 to $9.61. During the last trading day the stock fluctuated 24.10% from a day low at $7.80 to a day high of $9.68. The price has risen in 6 of the last 10 days and is up by 14.81% 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, 23 million more shares were traded than the day before. In total, 62 million shares were bought and sold for approximately $592.02 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 $10.31 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 407.17% during the next 3 months and, with a 90% probability hold a price between $27.19 and $52.29 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 $9.03 and $4.80. 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). 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 Friday, December 27, 2024, and so far it has fallen -3.03%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $8.93 and $8.37.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, D-Wave Quantum Inc. finds support just below today's level at $8.93. If this is broken, then the next support from accumulated volume will be at $8.37 and $7.22.

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 $1.88 between high and low, or 24.10%. For the last week, the stock has had daily average volatility of 22.20%.

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.