IonQ (NYSE:IONQ) shares are up during Thursday’s premarket session following the company’s announcement of a significant deployment in Romania’s quantum key distribution network.
This news highlights IonQ’s role in establishing one of the largest operational quantum key distribution networks in Europe, which is likely boosting investor confidence as the company expands its technological footprint in the region, one of the largest operational.
Romania Builds One of Europe's Largest Quantum Networks
IonQ on Thursday said it successfully deployed technology for the Romanian National Quantum Communication Infrastructure, marking a major milestone in Europe’s efforts to secure critical communications against cyber threats.
The project, which includes 36 quantum-secured links spanning over 1,500 kilometers, connects six major metropolitan areas in Romania, showcasing the scalability and operational readiness of quantum-secure communications.
The initiative involved collaboration with a consortium of 12 universities and several national agencies, emphasizing the importance of this deployment for both national security and the broader European quantum communications infrastructure.
IonQ’s technology is now integral to protecting sensitive communications across various sectors, including government and healthcare.
Technical Analysis
The stock is currently trading 12.8% above its 20-day simple moving average (SMA) and 9.5% above its 100-day SMA, indicating strong short-term momentum. Shares have increased 112.5% over the past 12 months and are currently positioned closer to their 52-week highs than lows.
The RSI is at 50.00, which is considered neutral territory. Meanwhile, MACD is at 0.05, below its signal line at 0.10, indicating bearish pressure on the stock.
The combination of neutral RSI and bearish MACD suggests mixed momentum.
- Key Resistance: $40.00
- Key Support: $35.00
Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $65.80. Recent analyst moves include:
- Morgan Stanley: Equal-Weight (Lowers Target to $35.00) (Feb. 23)
- Rosenblatt: Buy (Maintains Target to $100.00) (Feb. 6)
IONQ Price Action: IonQ shares were up 14.17% at $38.35 during premarket trading on Thursday, according to Benzinga Pro data.
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