How is $IONQ up ~400% YTD?
A deep dive into the key characteristics behind a monster move.
Today at a glance:
Chart mark up of IONQ
In-depth analysis covering key traits behind massive YTD performance
How a name like this gets on the watchlist
Today’s piece is for premium subscribers. If you would like to read the whole deep dive, you can upgrade to a paid subscription by clicking here!
p.s. I marked this chart up in the middle of August. It set up again and offered a beautiful buy point on August 29th, 2023. One of the major benefits of studying past winners is that they can continue to win if the market environment is healthy & their business continues to perform. IONQ is no different…
If you want to catch future winners, you have to study history. In reality, this only takes about ~15 minutes per day. Here’s my work on $IONQ:
Study Oliver Kell’s Price Cycle.
I’m consistently impressed with how well stocks fit the bottoming process Oliver Kell outlines in his content. Here are the steps:
Step 1: Reversal extension after steep sell-off from 10EMA
Step 2: Wedge Pop back through MAs
Step 3: EMA Crossback
Step 4: Base n’ Break
If you look at IONQ from December to February, every single one of these characteristics played out in the perfect order. Now, it doesn’t mean that this name would have been on my lists or tradeable at that time, but it does go to show that Oliver’s step-by-step price cycle happens in the real world.
Create A Process To Get Names Like These On Your Watchlists
For me, IONQ would have populated my watchlists to either start 2023, when it went from the low $3s to $6 in only a month or so (meeting HTF criteria), or when price gapped up on major volume in early April of ‘23.
In both of these instances, IONQ meets two different requirements (HTF or HVC) to get put into two different watchlists. This tells me…
1) this could be a big winner and
Keep reading with a 7-day free trial
Subscribe to Upside Unlimited by Greg Duncan to keep reading this post and get 7 days of free access to the full post archives.