IONQ Below Key Moving Averages: Buy, Hold or Sell Before Q3 Earnings?

IonQ (IONQ) is trading below its 50-day and 200-day moving averages, signaling bearish momentum despite a $7.5 million Air Force contract award. While analysts project nearly 100% upside with an average price target of $65.77, earnings estimates have deteriorated from a 22-cent loss to a 30-cent loss over the past month. The stock fell 26.1% in the past month as elevated interest rates pressure high-growth tech stocks. The company's Q3 earnings report on November 5 will be crucial for investor confidence.