IonQ (IONQ) shares surged Thursday to lead quantum computing stocks higher as the corporate’s CEO stated it goals to turn out to be the Nvidia (NVDA) of quantum computing. 

CEO Niccolo de Masi advised Barron’s in an interview that the corporate is “within the enterprise of quantum identical to Nvidia and Broadcom (AVGO) are within the enterprise of classical GPUs,” asserting that he believes IonQ would be the Nvidia participant.

The remarks come after D-Wave Quantum (QBTS) earlier this week introduced the launch of its next gen quantum computer, often known as Advantage2, underpinning bullish sentiment throughout Wall Avenue’s newest hottest sector. 

IonQ shares jumped 37% to $45.79 on Thursday, pushing the inventory into optimistic territory for 2025. The shares have greater than doubled from their early-April lows and have risen greater than 5 fold over the past yr, as traders wager that quantum computing will revolutionize areas like drug discovery, cybersecurity, and finance.

Beneath, we take a better have a look at IonQ’s chart and apply technical analysis to establish value ranges that traders will possible be watching.

Rising Wedge Breakout

After discovering help on the carefully watched 200-day moving average, IonQ shares trended increased inside a rising wedge earlier than staging a volume-backed breakout above the sample in Thursday’s buying and selling session.

Whereas the relative strength index confirms bullish value momentum with a studying above the 70 threshold, the indicator additionally flashes overbought situations that would set off short-term profit-taking.

Let’s establish two key overhead areas on IonQ’s chart to look at amid the inventory’s latest shopping for and in addition find support levels price monitoring throughout potential retracements.

Key Overhead Areas to Watch

The primary overhead space to look at sits round $55. Traders who’ve accumulated shares through the rising wedge might search for exit points at this stage close to the inventory’s all-time high.

To forecast an upside price target above the all-time excessive, traders can use the bars sample software. When making use of the method to IonQ’s chart, we extract the value bars comprising the inventory’s uptrend from November to January and reposition them from at this time’s breakout level. This evaluation tasks a goal of round $100, about 120% above Thursday’s closing value. 

We chosen this prior transfer increased because it commenced following a one-day acquire of round 35%, just like Thursday’s share change. It is also price noting that pattern performed out over 40 buying and selling days, that means the same transfer from the present breakout might final till late July if price action rhymes.

Help Ranges to Monitor

Throughout retracements within the inventory, traders ought to initially monitor the $28 stage. This space on the chart finds help from the close by rising 50-day MA and a horizontal line that connects a variety of buying and selling exercise on the chart extending again to final November.

Lastly, promoting beneath this stage might see IonQ shares revisit decrease help round $18. Traders could search shopping for alternatives on this location close to the late-October peak and early-March trough.

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As of the date this text was written, the writer doesn’t personal any of the above securities.