IonQ (IONQ) is a quantum computing hardware and software company based in College Park, Maryland. Last night the company reported an EPS and revenue beat. The stock is up sharply in trading Friday. Let's check out the charts and indicators.
In this daily bar chart of IONQ, below, I can see that prices exploded above the 50-day and the 200-day moving average lines today. Trading volume has rocketed higher.
The daily On-Balance-Volume (OBV) line has turned higher along with the Moving Average Convergence Divergence (MACD) oscillator moving above the zero line.
In this weekly Japanese candlestick chart of IONQ, below, I can see improvement. Prices are above the 40-week moving average line. The weekly OBV line shows a rise from December indicating that traders are more aggressive buyers. The MACD oscillator has improved but still remains below the zero line.
In this daily Point and Figure chart of IONQ, below, I can see today's sharp rally and a price target in the $10 area.
In this weekly Point and Figure chart of IONQ, below, I see a price target in the $11 area.
Bottom line strategy: Aggressive traders could go long IONQ around $6.25. Risk to $5.50. My price targets are in the $10-$11 area for now.
