$NYSE:QBTS Consolidating between $4 and $5

13 Des 2024

QBTS appears to be consolidating between $4 and $5 a share. Lots of buzz right now in the quantum computing space. D-wave has been in the headlines quite a bit along with NVDA and RGTI These stocks are generating a staggering amount of daily volume. Which is great when attracting the FOMO crowd!

Looking for a breakout after this closes above the recent highs of $5.38 (with relatively higher volume). If it misses the breakout then I suspect we're in for another cycle of down/up oscillation.

Primary support is at ~$4.15 with the secondary major support at ~$2.77
secondary.

If this bounces down prior to a breakout, there will probably be opportunities to buy on a dip probably in the $4.20 - $4.60 range.

As with anything with a lot of volatility, hang on to your seats!

13 Des 2024

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I've accumulated 80k shares with an average price of ~$4.25