Volatile ride for D-Wave Quantum Inc. stock price on Tuesday moving between $7.23 and $9.42

The D-Wave Quantum Inc. stock price gained 15.96% on the last trading day (Tuesday, 17th Dec 2024), rising from $7.22 to $8.37. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 30.29% from a day low at $7.23 to a day high of $9.42. The price has risen in 6 of the last 10 days and is up by 180.04% 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, 10 million more shares were traded than the day before. In total, 169 million shares were bought and sold for approximately $1.42 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 $5.52, a level that may pose a second chance to hit a runner.

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 $5.42 and $2.73. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, December 12, 2024, and so far it has risen 114.19%. 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 $7.22.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the stock price.

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 $2.19 between high and low, or 30.29%. For the last week, the stock has had daily average volatility of 36.06%.

The D-Wave Quantum Inc. stock is extremely overbought on RSI14 (83). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

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.