New Price Target on Quantum Computing Name as Bullish Reversal Pattern Emerges
Infleqtion’s fresh government ties, and 'significant potential' could put this under‑the‑radar stock on more traders’ screens.
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On February 12, I wrote to the "Stocks Under $10" crowd that our holding in the SPAC known as Churchill Capital Corp X (which traded under the symbol CCCX) was about to convert into Infleqtion Inc. after that quantum computing company had completed its merger with the "blank check company" and trade under the symbol (INFQ).
Two weeks later, filling in for Dougie Kass, I addressed the name at Doug's Diary and placed an $18 price target on the shares with a $15 pivot that had been created by what I saw as a falling wedge pattern.
The chart has changed. We'll get to that in a minute. I still do not see any professional sell-side coverage of the name. The only other pro I know talking about this stock is Andrew Left who told me about Infleqtion long before the merge.
News
On Monday, Infleqtion announced an expansion of its collaborative effort with a number of U..S Department of Energy national laboratories. Under the updated deal, Infleqtion will continue its work with two labs and launch work with a third. The partnerships are centered on Superstaq, which is Infleqtion's quantum software platform.
On Tuesday morning, Infleqtion announced that the firm will showcase accelerated quantum supercomputing integration into modern data centers through Nvidia's (NVDA) NVQLink at Nvidia GTC 2026.
Pranav Gokhale, CTO and general manager of quantum computing at Infleqtion said, "The next era of high-performance computing will be accelerated by the seamless integration of quantum and classical resources into a single unified platform." Gokhale added, "We believe neutral atom technology is the superior choice because of its inherent scalability, providing a strong foundation for this new HPC era."
The Chart
The falling wedge did produce a rally for CCCX that was then followed by a selloff. New stock, new symbol. We now see a double-bottom pattern of bullish reversal with a $17.50 pivot. Relative Strength is improving and now approaches a neutral reading. The daily MACD (moving average convergence divergence) is not yet postured bullishly, but is improving.
The histogram of the 9-day exponential moving average (EMA) is very close to moving above the zero bound, while the 12-day EMA is on the verge of overtaking the 26-day EMA.
My opinion is that this stock may be volatile but has significant potential. That said, it has not even reported earnings for the first time just yet. Understand that this is pure speculation, but based on the technicals, I am going to increase my price target.
Infleqtion (INFQ)
Price Target: $22
Pivot: $17.50
Add: Down to $10
Panic: Loss of the $10 level
Related: Six Things Most Investors Should Be Doing Now — But Aren't
At the time of publication, Guilfoyle was long INFQ equity.
