High volatility in D-Wave Quantum Inc. stock price on Tuesday which ended trading at $4.73

StockInvest.us, 1 month ago

StockInvest.us

The D-Wave Quantum Inc. stock price gained 23.50% on the last trading day (Tuesday, 14th Jan 2025), rising from $3.83 to $4.73. During the last trading day the stock fluctuated 20.90% from a day low at $4.02 to a day high of $4.86. The price has fallen in 7 of the last 10 days and is down by -52.27% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 30 million more shares were traded than the day before. In total, 134 million shares were bought and sold for approximately $634.78 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 $3.98 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 423.51% during the next 3 months and, with a 90% probability hold a price between $20.81 and $57.25 at the end of this 3-month period.

D-Wave Quantum Inc.

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. 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 $7.05 and $5.89. 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 -53.67%. 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).

D-Wave Quantum Inc. finds support from accumulated volume at $4.68 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 $0.84 between high and low, or 20.90%. For the last week, the stock has had daily average volatility of 26.92%.

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.

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