IONQ Weekly Outlook (Oct 28–31)

IONQ Weekly Outlook (Oct 28–31): “Quantum Momentum Building — Can $64 Ignite a Fresh Leg Toward $70?”

1. Weekly (1W) — Macro Structure
IonQ continues its massive recovery structure after confirming a BOS (Break of Structure) above the $50 zone, reclaiming a long-term ascending channel. The stock has been in an aggressive expansion phase since the CHoCH near $34. Price is now consolidating around $62–$64, retesting broken resistance as support.
* Trend Bias: Long-term bullish continuation.
* Support: $55 → $48 → $35
* Resistance: $65 → $70 → $85
* Momentum: Weekly MACD remains bullish but flattening; possible short-term cooling.
* Stoch RSI: Resetting from overbought, could prepare for another push once the retest completes.
💡 Macro insight: As long as IONQ holds above $54–$55, this structure suggests a healthy mid-cycle correction before resuming its climb toward the next major zone around $70–$85.

2. Daily (1D) — Midterm Rotation and Retest

On the daily chart, IonQ completed a CHoCH from its $84 top and retraced toward the $60 demand zone. Buyers are stepping back in, and the latest candle shows stabilization — signaling potential recovery.
* Market Structure: A confirmed retest near $60–$62 is forming a higher low.
* Support Zones: $60 → $55 → $48
* Resistance Zones: $65 → $70 → $85
* Indicators:
* MACD still bearish but histogram flattening, signaling slowing downside momentum.
* Stoch RSI rising from oversold — bullish crossover forming.
📈 Daily outlook: If price closes above $64–$65, we could see a structural reversal targeting $70–$75 next. A failure below $60 would risk deeper retracement toward $55.

3. 1-Hour (1H) — Tactical Setup

The intraday chart shows a steady grind higher inside a rising channel after a BOS near $63.50. The structure remains clean with buyers defending trendline support.
* Bias: Short-term bullish above $60.
* Support: $60 → $58 → $55
* Resistance: $65 → $67 → $70
* Setup Playbook:
* Breakout scalp: Entry above $65.50, targeting $67–$70 range.
* Pullback entry: Buy between $60–$61, aiming for a bounce back to $65+.
* Invalidation: Below $58 invalidates short-term bullish bias.
💬 Intraday note: MACD is curling upward again, and Stoch RSI is showing fresh momentum, signaling continuation possible after short consolidation.

4. GEX & Options Sentiment — Gamma Build-Up

From the GEX data overlay:
* Highest Positive NETGEX / Gamma Wall: $64 → $66
* 2nd Call Wall: $70
* Put Support Zones: $55 → $52
* IVR: 51.4 — elevated, suggesting traders expect large swings.
* IVx avg: 123.3 — volatility remains high, aligning with speculative demand.
* Calls: 139.5% dominance — strong bullish options sentiment.
🔍 Interpretation: The gamma landscape favors continuation higher as long as IONQ stays above $60. If price can break $65–$66, we could see momentum chase up toward $70–$75, where the next major gamma resistance sits.

5. Suggested Option Scenarios
Bullish Setup (Primary Scenario):
* Play: 62.5C–70C (0–2DTE) breakout setup.
* Entry: Above $64.50–$65 breakout confirmation.
* Targets: $68 → $70 → $75.
* Stop: Below $59.
Pullback Play (Dip Entry):
* Play: 60C (1DTE) or 60/65 debit spread.
* Entry: Around $60–$61 with confirmation bounce.
* Target: $65 → $68.
* Stop: Below $58.
Hedge (Only below $58):
* Play: 55P (1DTE) targeting $52–$50 zone.
* Stop: Back above $61.

Directional Bias
IONQ looks like it’s building energy for another leg higher. Price action suggests the correction is near completion, and holding $60–$61 will be key for the next breakout wave.
🎯 Primary Bias: Bullish continuation toward $70–$75.
⚠️ Invalidation: Breakdown below $58 → deeper retrace toward $55 or $50.

This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage risk before trading.