Breakout and retests for quantum stocks

Breakout and retest patterns are everywhere. D-Wave Quantum (QBTS), IionQ (IONQ), and Rigetti Computing (RGTI) are three quantum computing stocks that exhibit this bullish setup and show plenty of upside potential on their logarithmic scale charts.

D-Wave Quantum (QBTS) is a software stock that is defending its rising 26- and 40-week moving averages (WMAs) from 22.35 to 18.13 as support along with the May-September triangle breakout point near 19.77. This sets up a bullish breakout and retest pattern for QBTS with upside potential back to and beyond the mid October peak at 46.75 toward measured move objectives near 63.00 and 66.00. Weekly closes above the rising 13-WMA near 28.48 would increase our bullish conviction.

In addition, the massive log scale cup and handle formation projects longer-term upside to pattern counts at 175, 210, and even 320.

Chart 1: D-Wave Quantum (QBTS): Weekly logarithmic scale

IionQ (IONQ) is a technology hardware, storage, and peripherals stock with a breakout and deep retest of a December 2024-September 2025 bullish cup and handle pattern. Rising 26- and 40-week moving averages (WMAs) at 50.54 and 43.21, respectively, reinforce this stock's constructive setup ahead of chart support at the recent low of 38. Reclaiming both chart resistance at 54.84 and the rising 13-WMA at 59.64 would increase our bullish conviction, setting a path back to the mid October peak at 84.64 and potentially beyond toward 118 (target of the late 2021-late 2024 big triangle base) and 132 (cup and handle count).

Chart 2: IionQ (IONQ): Weekly logarithmic scale

Rigetti Computing (RGTI) is a semiconductor stock that is defending its rising 26-week moving average and January 2025 high at 23.65-21.42 as support. This sets up a bullish breakout and retest pattern for RGTI with upside potential back to the mid October peak at 58.15 and the January-September base breakout target at 66.00. Weekly closes above the rising 13-WMA near 33.13 would increase our bullish conviction. The rising 40-WMA at 18.93 offers additional support along with chart levels at 18.16-17.39.

In addition, a big base on the log scale chart projects longer-term upside to pattern counts at 130 and 245. This chart also shows measured move objectives at 185 and 210.

Chart 3: Rigetti Computing (RGTI): Weekly logarithmic scale