- 1 IonQ stock price closed at $14.77 while observing a gain of 6.11% during the last intraday trading session.
- 2 IonQ Inc. entered a $25.5 Million Quantum Computing deal with the United States Air Force research labs.
- 3 The year-to-date return of IONQ is 313.73%, while the monthly return is -14.82%.
IonQ (IONQ) stock price has been on a bullish trend since the start of 2023, rising from the support level of $$3.10. The stock price has surged roughly 595.50% from the support level, forming an annual high of $21.60. IONQ stock price attempted twice to rise close above $20 but failed.
During mid-September, the stock price faced rejection from the $20 resistance level and began to print a bearish candle for eight consecutive days. IONQ stock price then formed support at $13 and began to rally, but the move was again halted at $15.60.
IONQ stock price retraced, and the last candle closed bullish, forming a minor support at $13.80. If bulls push the price above $15.60, it might rise toward the next significant resistance level of $20 and attempt to shatter the annual high.
On the other hand, if bears push the price below $12, it might melt toward the next support level of $9. However, the stock price has shown bullishness since the start of 2023, and traders should wait for proper confirmation before looking for selling bids.
What Led to a Bounce Off from $13?
IONQ stock price started to pop after the company announced a $25.5 Million quantum deal with U.S. Airforce Research Labs. The company has expanded its relationship for deploying two barium-based trapped ion quantum computing systems for quantum networking research and application development.
Following the deal that was announced a year ago between IONQ and U.S. Airforce Research Labs to offer access to the company’s trapped ion systems, IONQ reached a record settling booking in the second quarter worth $28 Million.
Will IONQ Stock Price Rise Above $15.60?
The stock price has dropped below 20 and 50-day exponential moving averages, indicating a rise in the participation of bears. The 100-day EMA is acting as a support for the price. The Chaikin money flow score has dropped below the 0 mark and currently stands at -0.27, suggesting intense weakness and capital outflow from the market.
However, the relative strength index has managed to stay above the 40 mark and stands at 46.64, nearing the neutral territory, indicating increased involvement of bulls. The Bollinger bands have slightly expanded, indicating a rise in volatility.
According to Zion Market Research, the global quantum computing market will rise 31% annually and amount to $5.27 Billion by 2030, so it’s understandable why investors would be interested in IonQ. IONQ reported a 111% year-over-year revenue increase and $28 Million in new bookings in the second quarter which is a good sign of development.
Major support: $13 and $9
Major resistance: $15.60 and $20
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.