IonQ Inc (NYSE:IONQ) shares are trading higher on Thursday. The quantum computing stock appears to be resuming upward momentum after finding support around the $40 level following a period of consolidation.
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What To Know: IonQ had fallen approximately 15% over the past month before recouping some losses this week. The stock moved higher when it reported third-quarter earnings in early November, but has trended lower since that initial post-earnings rally as the broader quantum sector continued to cool off.
After regaining its footing and establishing support around $40, shares appear to be resuming the upward momentum that has driven gains of more than 50% over the past 12 months.
In early November, IonQ reported third-quarter losses of 17 cents per share, which was better than analyst estimates for losses of 44 cents. The quantum company also showed a 29% improvement compared to last year’s losses of 24 cents per share during the same quarter.
IonQ also reported quarterly sales of $39.87 million, which beat the analyst consensus estimate of $26.98 million by nearly 48%, marking a 222% increase over sales of $12.4 million in the same period last year.
IonQ increased its full-year sales outlook for 2025 to a range of $106 million to $110 million from its previous range of $82 million to $100 million, versus the consensus estimate of $91.325 million.
On the other hand, the broader quantum computing market had a very turbulent November with a number of stocks suffering sharp losses. Quantum companies like Rigetti Computing Inc (NASDAQ:RGTI) and D-Wave Quantum Inc (NYSE:QBTS) both experienced double digit declines in the first half of November as the whole sector experienced intensified concerns regarding near-term profitability.
Nevertheless, on Thursday several quantum-related stocks are recovering alongside IonQ, which indicates renewed investor interest in this sector again. The recent sell-off appears to have made entry points more attractive.
IONQ Analysis
IonQ is currently showing a strong bullish trend, with the stock trading 10.8% above its 20-day SMA and 3.8% above its 100-day SMA. However, it’s 8.4% below its 50-day SMA, indicating some short-term weakness that traders should monitor closely. The quantum stock is trading significantly above its 200-day SMA by 29.3%, reinforcing the bullish sentiment over the longer term.
The RSI is currently at 44.85, which suggests neutral momentum, while the MACD is below its signal line, indicating bearish pressure despite a bullish longer-term trend. Traders should keep an eye on the support level at $53.00 and resistance at $59.50; breaching these could signal a trend change or continuation.
Looking at the three-month performance, IonQ has gained 33.07%, reflecting solid upward momentum. Over the last six months, the stock is up 36.22%, indicating that the bullish trend has been strong. In the past year, IonQ has surged 63.29%, showcasing its potential for growth amid increased investor interest.
IONQ Price Action: IonQ shares were up 12.26% at $54.57 at the time of publication on Thursday, according to Benzinga Pro.
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