Volatile ride for D-Wave Quantum Inc. stock price on Friday moving between $9.11 and $11.41

StockInvest.us, 1 month ago

StockInvest.us

The D-Wave Quantum Inc. stock price gained 0.101% on the last trading day (Friday, 27th Dec 2024), rising from $9.90 to $9.91. During the last trading day the stock fluctuated 25.25% from a day low at $9.11 to a day high of $11.41. The price has risen in 8 of the last 10 days and is up by 153.6% 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, 18 million more shares were traded than the day before. In total, 118 million shares were bought and sold for approximately $1.17 billion.

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 $9.62, a level that may pose a second chance to hit a runner. According to fan-theory $14.70 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

D-Wave Quantum Inc.

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 $8.24 and $4.16. 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 55.57%. 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 $2.30 between high and low, or 25.25%. For the last week, the stock has had daily average volatility of 25.58%.

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.

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