Performance metrics and trade details for QBTS breakout.
D-Wave Quantum reported negative earnings, but the stock moved up 1% after hours.
The next day, the stock surged and opened with an 11% gap up.
Entering with a 1-minute ORH provides a risk of 3.3%, which is much lower than its ADR (14%).
There were two exits using the breakdown of the upper trendline, resulting in 14% and 24% gains, respectively. If held until close, the gain would have been 29%.
Given the choppiness of the market, it's ideal to be nimble and exit quickly using the first two exits. Stocks have shown recent afternoon dives, making a quicker exit more prudent.
