High volatility in D-Wave Quantum Inc. stock price on Wednesday which ended trading at $5.79

The D-Wave Quantum Inc. stock price gained 22.41% on the last trading day (Wednesday, 15th Jan 2025), rising from $4.73 to $5.79. During the last trading day the stock fluctuated 19.81% from a day low at $5.30 to a day high of $6.35. The price has fallen in 6 of the last 10 days and is down by -37.74% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 65 million more shares were traded than the day before. In total, 200 million shares were bought and sold for approximately $1.16 billion.

On Jan 14, 2025, it was reported that B. Riley gave QBTS a "Buy" grade with a "hold" 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 376.14% during the next 3 months and, with a 90% probability hold a price between $19.60 and $52.71 at the end of this 3-month period.

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 $6.57 and $6.00. 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 -43.29%. 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 $5.77 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 $1.05 between high and low, or 19.81%. For the last week, the stock has had daily average volatility of 27.50%.

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.