To The Moon

The quantum computing industry was given a huge boost when Alphabet (NASDAQ: GOOG) announced Willow, its new state-of-the-art quantum chip that could solve computational problems at unprecedented speeds. However, the industry subsequently entered into a correction when Nvidia (NASDAQ: NVDA) CEO Jensen Huang said during CES 2025 that the industry was still 15 to 30 years away from being useful and practical. Retail interest in quantum computing stocks and the next NVDA warrants a closer look at one of the supposed leaders in the quantum computing industry.

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Without further ado, here’s today’s newsletter:

IonQ, Inc. (NYSE: IONQ)

IONQ has been in an uptrend since 2022 with higher highs and higher lows. The key levels to watch are 35.90 (2021 ATHs) and 21.60 (major pivot in 2021 and 2023). Recently, IONQ formed a bearish divergence on the weekly chart, as seen from the RSI and Stochastic, which has resulted in a rejection at the 2.618 Fib extension at 51.63 (assuming 0 Fib at 3.04 and 1 Fib at 21.60). Notice how far IONQ is from its support trendlines, showing the sheer strength of the industry rally.

The daily chart shows just what we’re dealing with here - the long-term trend (in purple), the markup in trend (in blue), and the most recent markup in trend (in dark green). The structural breakdown below the dark green trend, has potentially opened the door towards further downside into the major pivot at 21.60. This also doubles up as a retest of supply from above given the strength of the resistance in both 2021 and 2023. Moreover, the daily Stochastic is in the middle of the range and has yet to fully reset itself, suggesting that any upside snapbacks could be short-lived reprieves (i.e., lower highs) before it retests major support.

All major support are indicated in black based on prior price action, as well as Fib extensions from 0 to 4.618. Note that a break of long-term trend (in purple) is usually a deal breaker in long-term investing and/or swing trading, and has a tendency to lead to moves lower. Otherwise, it is possible that any downward price action we’re seeing now is merely a pullback to reset the technical indicators.

Just to illustrate my point, I’ve attached 2 charts that I’ve been looking at recently, to show what happens when stocks breach their long-term trendlines:

Dollar General Corporation (NYSE: DG)

Celanese Corporation (NYSE: CE)

Will IONQ continue its long-term uptrend? Will it continue to pullback? Or will it chop sideways? Let’s find out together!

$IONQ Inc.(IONQ)$ $Quantum Computing Inc.(QUBT)$ $Alphabet(GOOG)$ $IBM(IBM)$ $Rigetti Computing(RGTI)$

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