High volatility in D-Wave Quantum Inc. stock price on Thursday which ended trading at $9.90
StockInvest.us, 1 month ago
The D-Wave Quantum Inc. stock price gained 24.53% on the last trading day (Thursday, 26th Dec 2024), rising from $7.95 to $9.90. During the last trading day the stock fluctuated 29.97% from a day low at $7.64 to a day high of $9.93. The price has risen in 7 of the last 10 days and is up by 142.05% 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, 49 million more shares were traded than the day before. In total, 100 million shares were bought and sold for approximately $986.71 million.
On Jul 24, 2024, it was reported that B. Riley gave QBTS a "Buy" grade with a "initialise" action.
The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $9.46, a level that may pose a second chance to hit a runner. According to fan-theory $14.72 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Mostly positive signals in the chart today. 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 $8.02 and $3.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, December 19, 2024, and so far it has risen 55.42%. Further rise is indicated until a new top pivot has been found. 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.
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 $8.15.
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 $2.29 between high and low, or 29.97%. For the last week, the stock has had daily average volatility of 32.28%.
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. 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 period.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Check full D-Wave Quantum Inc. forecast and analysis here.