IonQ (IONQ) shares surged Thursday to ꧒澳洲幸运🌺5官方开奖结果体彩网:lead quantum computing stocks higher as the company’s CEO said it aims to become the Nvidia (NVDA) of quantum computing. 

CEO Niccolo de Masi told Barron’s in an interview that the company is “in the business of quantum just like Nvidia and Broadcom (AVGO) are in the business of classical GPUs,” asserting that he believes IonQ will be the Nvidia player.

The remarks come after D-Wave Quantum (QBTS) earlier this week announced the 澳洲幸运5官方开奖结果体彩网:launch of its next gen q🉐uantu🍒m computer, known as Advantage2, underpinnin𓃲g bullish se⛦ntiment across Wall Street’s latest hottest sector. 

IonQ shares jumped 37% to $45.79 on Thursday, pushing the stock into positive territory for 2025. The shares have more than doubled from their early-April lows and have risen more than five fold over the last year, as investors bet that 澳洲幸运5官方开奖结果体彩网:quantum computing will revolutionize areas like drug discovery, 澳洲幸运5官方开奖结果体彩网:cybersecurity, and finance.

Below, we take a closer look at IonQ’s chart and apply 澳洲幸运5官方开奖结果体彩网:technical analysis to identify price levels that investors will ꦐlikely be watching.

Rising Wedge Breakout

After finding support at the closely watched 澳洲幸运5官方开奖结果体彩网:200-day moving average, IonQ shares trended higher within a 澳洲幸运5官方开奖结果体彩网:rising wedge before staging a volume-♋backed breakout above the pattern in Thursday’s tꦺrading session.

While the 澳洲幸运5官方开奖结果体彩网:relative strength index confirms bullish price momentum with a reading above the 70 threshold, the indicator also flashes 澳洲幸运5官方开奖结果体彩网:overbought conditions that could trigger short-term 澳洲幸运5官方开奖结果体彩网:profit-taking.

Let’s identify two key overhead areas on IonQ’s chart to watch amid the stock’s recent buying and also locate 澳洲幸运5官方开奖结果体彩网:support levels worth monitoring during potential retracements.

Key Overhead Areas to Watch

The first overhead area to watch sits around $55. Investors who have澳洲幸运5官方开奖结果体彩网: accumulated shares during the rising wedge could look for 澳洲幸运5官方开奖结果体彩网:exit points at this level near the stock’s 澳洲幸运5官方开奖结果体彩网:all-time high.

To forecast an upside 澳洲幸运5官方开奖结果体彩网:price target above the all-time high, investors can use the bars pattern tool. When applying the technique to IonQ’s chart, we extract the price bars comprising the stock’s uptrend from November to Janu🧸ary and reposition them from today’s breakout point. This analysis projects a target of aroun🐎d $100, about 120% above Thursday’s closing price. 

We selected this prior move higher as it commenced following a one-day gain of around 35%, similar to Thursday’s percentage change. It's also worth noting that trend played out over 40 trading days, meaning a similar move from the current breakout could last until late July if 澳洲幸运5官方开奖结果体彩网:price action rhymes.

Support Levels to Monitor

During retracements in the stock, investors should initially monitor the $28 level. This area on the chart finds support from the nearby rising 50-day MA and a 澳洲幸运5官方开奖结果体彩网:horizontal line that connects a range of🌳 trading activity on the chart🌌 extending back to last November.

Finally, selling below this level could see IonQ shares revisit lower support around $18. Investors may seek buying opportunities in this location near the late-October peak and early-March trough.

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As of the date this article was written, the author does not own any of the above securities.