Quantum Computing shares hit their highest level since December, driven by optimistic comments about the technology’s future by Nvidia CEO Jensen Huang.
2. Huang’s statement:
Huang said quantum computing is now at an “inflection point” and could solve some of the most complex problems in the coming years — he previously thought it was 15 to 30 years away.
3. Jump from $1 to $19:
QUBT shares, which traded at less than $1 a year ago, now close at nearly $19, a positive indicator for 2025 — up 25% on Wednesday alone.
4. New achievement:
The company recently completed its “Quantum Photonic Chip Foundry” in Tempe, Arizona, and deepened its partnerships with government and private partners.
5. Technical Breakout:
After a decline to the 200-day moving average, the shares formed a ‘rectangle formation’ — a pattern that indicates a strong uptrend. Earlier this week, the shares broke this formation on high volume.
6. Movement Indicators:
The RSI (Relative Strength Index) is showing bullish signs but also warns of overbought conditions, which suggests a short-term downside potential.
7. Short-Term Target:
If the shares continue to rally, the first hurdle could be around $27, which is near the December highs.
8. Long-Term Target:
According to the ‘Measured Move Technique’, adding a 150% upside from $15 leads to a projection of $37.50 — that’s nearly 100% upside from Wednesday’s close.
9. Support Zone:
If the stock declines, support could appear around $15 — this could be an attractive opportunity for investors to “Buy the Dip.”
10. Final Line of Defense:
If the $15 level breaks, the next support could be at $9, where the 50-day moving average and the trendline that has been in place since last November converge.
