IonQ Inc. (IONQ) stock market capitalization is $2.774 Billion and the total revenue is $11.131 Million. Moreover, the stock’s basic EPS is -$0.57 and the price-to-earnings ratio is -24.4. IonQ Inc. (IONQ) experienced a decline in its earnings at a rate of -47.8% per year on average, according to Simply Wall St., a financial website. The Tech industry’s average annual earnings growth is 7.5%. Therefore, IONQ earnings are much lower than the industry average.
Moreover, Ionq Inc. (IONQ) stock has not performed well in the last month, decreasing by 0.51% and surging by 164.80% in the last six months. Ionq Inc. (NYSE: IONQ) stock has a positive year-to-date return of 283.47% and a one-year return of 92.55%. The average volume is 14.362 Million and the current volume is 16.771 Million where the current selling volume is above average volume.
Technical Analysis of IONQ Stock Price in 1-D Timeframe
The price action shows that Ionq Platforms Inc. ( NYSE: IONQ) stock price was in an uptrend earlier and reached a high at $20.08 by making higher highs and lows. The price, thereafter, faced selling pressure and the price fell downwards.
At the time of writing, IONQ stock is trading at around $13.69 and facing the nearest resistance around $16.03 and the price is trying to form a bearish pattern which is head and shoulder, if more selling volume adds in IONQ Stock then breakdown might drag the price towards new lows.
Therefore, if the IONQ price fails to sustain the current level and drops, it might hit the nearest support levels of $13.21 and $10.96.
However, if it maintains the current level, the IONQ prices could continue to move upward and reach the first and second resistances of $16.03 and $18.32.
At the time of publishing, Ionq Inc. (NYSE: IONQ) is trading below the major 20, and 50-day EMA (exponential moving averages), which rejects the Ionq price (IONQ) trend.
Furthermore, 100, and 200-day EMA is supporting the price if more selling volume rises then the price might capture supporting EMA’s by making lower highs and lows.
Hence, the IONQ price is expected to move downwards showing a bearish overview over the daily time frame chart.
The current value of RSI is 43.66 points. The 14 SMA is above the median line at 57.46 points which indicates that Ionq stock is in bearish territory and the RSI took rejection from 14 SMA and is headed towards an oversold zone indicating bearishness.
The MACD line at 0.2348 and signal line at 0.7353 are above the zero line and both lines have crossed each other. A bearish crossover is noticed in the MACD oscillator which expresses bearishness for the Ionq stock price.
Summary
Ionq Inc (NYSE: IONQ) indicates that the traders and investors of the share price are bearish on the 1-D time frame. The price action shows a bearish outlook at the time of publishing. The technical analysis tools of Ionq share price also support bearishness. The EMA, RSI, and MACD highlight downward signals and indicate that a downtrend may continue in the Ionq stock price.
Technical Levels
- Support levels: The nearest support levels for IONQ stock price are $39.97 and $37.21.
- Resistance levels: The nearest resistance levels for the IONQ stock price are $41.65 and $44.42.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/08/17/ionq-stock-analysis-will-bearish-pattern-succeed-in-ionq-price/