The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 122.01% during the next 3 months and, with a 90% probability hold a price between $29.11 and $39.94 at the end of this 3-month period.
IONQ Signals & Forecast
The IonQ, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $15.20 and $12.46. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 21, 2023, and so far it has risen 75.60%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Wednesday, June 21, 2023 with a target of $11.13. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.Support, Risk & Stop-loss for IonQ, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $13.55 and $13.53. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, IonQ, Inc. finds support just below today's level at $13.55. If this is broken, then the next support from accumulated volume will be at $13.53 and $13.35.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.45 between high and low, or 9.71%. For the last week, the stock has had daily average volatility of 8.38%.
Our recommended stop-loss: $15.60 (-3.64%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (IONQ) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect IonQ, Inc. to open at $15.83, and during the day (based on 14 day Average True Range), to move between $14.97 and $17.91, which gives a possible trading interval of +/-$1.22 (+/-7.52%) up or down from last closing price. If IonQ, Inc. takes out the full calculated possible swing range there will be an estimated 15.04% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $13.55, some $2.64 (16.31%) from the current price of $16.19, our system finds the risk reward attractive.
Insiders are very negative selling more shares than they are buying in IonQ, Inc.
In the last 100 trades there were 5.86 million shares bought and 101.35 million shares sold. The last trade was made 27 days ago by You Harry L. who purchased 9.69 thousand shares. In general the insiders are selling more stocks than they buy. There can be a variety of reasons for this, but in general it can be considered as a negative signal.
Is IonQ, Inc. stock A Buy?
IonQ, Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
