IONQ Stock Forecast: Will IONQ Stock Price Hit $20?
IONQ stock forecast indicates that the price is in a downward trend, below the key exponential moving averages. However, its earnings reports are coming soon to determine the price’s fate. If the result exceeds the expectation and shocks the investors, it could soar to new peaks. But if the result falls short of the expectations, the IONQ stock price could decline more.
The company’s future EPS is expected at -$0.23, showing a 155.56% fall from the same quarter of last year. At the same time, the analyst’s newest forecast is asking for revenue of $5.7 million, up 49.61% from the previous year’s quarter.
Looking at the performance of the IONQ stock price over the year it gave an outstanding return of 118.69%. However, year to date the stock performance is lacklustre as it gave a negative return of 13.77% and in the last 6 months, it is down by almost 27.35%. In the last 3 months, the negative performance of the stock has continued as it gave a negative return of 14.53%, and last month it declined by almost 11.62% as per the trading view data.
IonQ, Inc. is a company that builds quantum computing systems for various purposes in the United States. It offers access to quantum computers with different numbers of qubits. The company lets users access its quantum computers through cloud services, such as AWS Amazon Braket, Microsoft’s Azure Quantum, and Google’s Cloud Marketplace, or through its own cloud service.
The company also gives consulting services for co-creating algorithms on quantum computing systems; and deals with the planning, making, and building of specialized quantum computing systems. IonQ, Inc. started in 2015 and is based in College Park, Maryland.
Technical Analysis of IONQ Stock Price
Source: Tradingview
Exponential Moving Averages (EMA): The price is currently trading below the key exponential moving averages, including the 20-day, 50-day, 100-day, and 200-day. This alignment suggests a bearish sentiment on the daily technical chart.
Moving Average Convergence Divergence (MACD): The MACD is signalling bullish momentum, heading towards a positive zone with green histogram bars.
Relative Strength Index (RSI): The RSI curve stands at 45.47, positioned above the 14-day Simple Moving Average (SMA) curve but both below the median line. This placement indicates that the price is neutral as of now.
The stock price needs strong buyer backing to bounce back. However, it faces tough resistance from past levels and various moving averages. Buyers are impacting the price movement, as shown by the price action.
Disclaimer
It’s important to note that the views and opinions presented in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading stocks carries inherent risks, and readers should conduct their research before making any financial decisions.
