Big movements in Rigetti Computing, Inc. stock price on Tuesday moving 19.84% between high and low

The Rigetti Computing, Inc. stock price fell by -10.24% on the last day (Tuesday, 31st Dec 2024) from $17.00 to $15.26. During the last trading day the stock fluctuated 19.84% from a day low at $15.02 to a day high of $18.00. The price has risen in 6 of the last 10 days and is up by 81.02% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -20 million shares and in total, 139 million shares were bought and sold for approximately $2.12 billion.

On Dec 20, 2024, it was reported that Craig-Hallum gave RGTI a "Buy" grade with a "initialise" action.

The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $17.45 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 215.94% during the next 3 months and, with a 90% probability hold a price between $20.38 and $55.13 at the end of this 3-month period.

The Rigetti Computing, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $13.78 and $5.93. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, December 27, 2024, and so far it has fallen -10.58%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $2.98 between high and low, or 19.84%. For the last week, the stock has had daily average volatility of 26.93%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Rigetti Computing, Inc. stock to perform well in the short-term.