NEW YORK – Shares of Quantum Computing Inc. (Nasdaq: QUBT) are experiencing a highly volatile morning of trading, with the stock swinging between significant losses and gains in the first hour after the market open. As of 10:36 AM EDT, the stock was trading at $20.63, nearly flat for the day.
The session began on a weak note, with QUBT opening at $20.30, well below its previous close of 20.17**. However, buyers then entered the market with force, triggering a dramatic rally that sent the stock soaring to a daily high of $20.87.
This intense battle between buyers and sellers is reflected in the high trading volume, which has already reached over 7.8 million shares, a significant portion of its average daily volume.
Outlook for the Rest of the Day
Given the extreme volatility, the outlook for the remainder of the trading session is uncertain. Traders will be closely watching several key price levels to determine the stock’s next move:
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Resistance: The daily high of $20.87 now acts as a key resistance level. A sustained break above this point could signal that buyers have taken firm control and may lead to further gains.
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Support: On the downside, the opening price of $20.30 and the daily low of $20.17 will serve as critical support levels. A fall below these points could indicate that the early-morning rally has failed and sellers are reasserting dominance.
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Pivot Point: The price is currently hovering around the previous day’s close of $20.65, making it an important pivot for intraday direction.
Investors should anticipate continued sharp price movements as QUBT seeks to establish a clear trend for the day.
Key Data (as of 10:36 AM EDT):
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Price: $20.63 (-0.12%)
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Previous Close: $20.65
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Open: $20.30
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Day’s Range: $20.17 – $20.87
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Volume: 7,880,711
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Market Cap (Intraday): 3.199B
