📝 Full Description (TradingView Post):
Ticker:
IONQTimeframe: 30-Min Chart
Trade Type: Long Reversal Setup
IONQ recently pulled back from a sharp rally and entered a consolidation phase, forming a descending trendline with horizontal support around the $39–$40 zone. Price is now showing signs of reversal from support, having just broken through short-term resistance at $40.58 with bullish structure.
This breakout sets the stage for a possible move toward the prior supply zone near $43.78, with a favorable risk/reward ratio.
🧠 Trade Plan:
Entry: $40.58 (confirmed breakout of consolidation)
Stop-Loss: $41.97
Target: $43.78
Risk/Reward: ~1:2
🔍 Technical Insights:
Breakout above falling resistance trendline
Small bullish pennant breakout within broader downtrend
Potential retest of breakout zone at $40.58
Setup forming a bullish divergence pattern
⚠️ What to Watch:
Watch for a retest of $40.58 — this could confirm the breakout level as new support
Price strength above $41.00 would further confirm upside momentum
Rejection at $41.97 would invalidate this setup
📈 Chart by ProfittoPath
Daily swing setups | Breakout levels | Smart entries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.