IonQ Stock Testing Horizontal Resistance, Surging On Balance Volume

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IonQ stock is testing a double top, horizontal resistance zone as of September 10, 2023. On Balance Volume has formed a positive divergence to price. This is the second quantum computing stock that shows big buying over the last few days. IONQ stock is in a technical strong uptrend.

IONQ stock on September 10, 2023, with positive divergence forming between the On Balance Volume indicator and price.

Dark Pool Trading Detected In IONQ Stock

Dark pool trading was detected in IONQ stock on August 23, 2023, and again on August 29, 2023. Combined, both dark pool trades were worth about $34 million. We think the dark pool trades were buy orders because IONQ stock rose following the prints hitting the tape.

IONQ stock chart on September 10, 2023, showing two dark pool trades (orange bars) that occurred at the end of August 2023.

Make sure to review this lesson on dark pool trading so that you understand the chart above.

Unusual Options Flow Detected In IONQ Stock

An unusually large option flow trade was detected in IONQ stock on September 8, 2023. Someone put down a $33,000 call option bet with a $25 strike with an expiration date of September 29, 2023.

IonQ Inc. is a company that specializes in the development and commercialization of quantum computing technologies. They are focused on building practical and scalable quantum computers that can solve complex problems more efficiently than traditional computers. IonQ’s quantum computers are based on trapped ion technology, which utilizes individual ions as qubits (quantum bits) to perform quantum calculations. The company aims to revolutionize various industries and fields such as drug discovery, material science, optimization, machine learning, and cryptography by providing powerful quantum computing solutions.

Zapata AI and IonQ Collaborate to Advance Generative AI Research

On August 15, 2023, Zapata AI, a software company that creates solutions for businesses’ most computationally difficult problems, announced it had joined forces with IonQ, a pioneer in the development of commercial quantum applications and hardware. The teams will benchmark generative AI methods on quantum hardware to discover new potential benefits of quantum computing that might aid in resolving challenging real-world business problems, building on years of prior collaboration.

IonQ and Zapata’s prior quantum collaboration was expanded through this alliance with a focus on generative AI. In order to deliver on joint generative AI projects, the partnership will bring together the application development specialists from Zapata and the scientists, cutting-edge compute technology, and services from IonQ. To scale the delivery of IonQ’s advanced compute services with Zapata’s products for enterprise customers, the partnership will also drive joint go-to-market activities.

“IonQ’s commercial success is a reflection of the value that our customers attribute to our systems, yet the onramp into quantum computing can be challenging. Our partnership with Zapata will remove roadblocks and accelerate quantum adoption,” said Rima Alameddine, CRO at IonQ. “We are excited to continue our work with Zapata and are confident that this partnership will drive new breakthroughs in the development of generative AI models and help enterprise companies better solve industrial-scale problems.”

The two companies have a successful track record of working together, which is built upon by this strategic agreement. Examples of this success include a groundbreaking project to produce high-quality, real-world data using quantum hardware and a multi-year award for quantum benchmarking from the Defense Advanced Research Projects Agency (DARPA).

“We’re looking forward to building on our previous work together and diving deeper into quantum generative AI,” said Yudong Cao, CTO and co-founder at Zapata. “Quantum-enhanced generative modeling is the first place we expect to see a quantum advantage for industrial problems, including drug discovery, optimization, language processing, and predictive analytics. We’re excited to see what impact we could create with IonQ’s advanced technology.”

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