Quantum Computing (QUBT, Financials) lit up the tape Wednesday; soaring 25% after Nvidia (NVDA, Financials) CEO Jensen Huang struck an unexpectedly bullish tone on quantum tech; calling it “an inflection point” for the industry.
The stock — which traded under $1 just last year — is now back in the green for 2025; hitting its highest mark since December.
Traders were also watching the charts; QUBT broke out of a rectangle pattern; a bullish signal suggesting this rally may have legs. Volume spiked to its highest level since mid-December; and technical indicators confirmed strong momentum — though overbought signals could lead to some short-term selling.
Analysts say resistance sits around $27; a familiar ceiling from late 2024. A stretch target of $37.50 is also in play; based on a measured move from the breakout.
On the flip side; support holds around $15 — the upper line of the old rectangle; with deeper support near $9 if sentiment sours.
Beyond the charts; the fundamentals are improving too. Quantum Computing recently completed its Quantum Photonic Chip Foundry in Tempe, Arizona; and has been expanding ties with government and commercial clients; betting big on photonic and quantum optics applications.
