High volatility in D-Wave Quantum Inc. stock price on Wednesday which ended trading at $6.25
StockInvest.us, 2 weeks ago
The D-Wave Quantum Inc. stock price fell by -0.636% on the last day (Wednesday, 22nd Jan 2025) from $6.29 to $6.25. During the last trading day the stock fluctuated 16.37% from a day low at $6.11 to a day high of $7.11. The price has fallen in 6 of the last 10 days and is down by -38.79% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 million shares and in total, 126 million shares were bought and sold for approximately $785.80 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 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 247.77% during the next 3 months and, with a 90% probability hold a price between $16.19 and $40.29 at the end of this 3-month period.
There are mixed signals in the stock today. The D-Wave Quantum Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $6.35. On a fall, the stock will find some support from the short-term average at $5.42. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, January 06, 2025, and so far it has fallen -38.79%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
D-Wave Quantum Inc. finds support from accumulated volume at $6.10 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 $1.00 between high and low, or 16.37%. For the last week, the stock has had daily average volatility of 16.75%.
D-Wave Quantum Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Hold/Accumulate to a Sell candidate.
Check full D-Wave Quantum Inc. forecast and analysis here.