Volatile ride for Rigetti Computing, Inc. stock price on Friday moving between $2.42 and $3.11

The Rigetti Computing, Inc. stock price gained 27.08% on the last trading day (Friday, 29th Nov 2024), rising from $2.40 to $3.05. During the last trading day the stock fluctuated 28.51% from a day low at $2.42 to a day high of $3.11. The price has risen in 7 of the last 10 days and is up by 96.77% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 54 million more shares were traded than the day before. In total, 115 million shares were bought and sold for approximately $349.66 million.

On Aug 09, 2024, it was reported that Needham gave RGTI a "Buy" grade with a "hold" action.

The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $1.98, a level that may pose a second chance to hit a runner.

Mostly positive signals in the chart today. 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 $2.14 and $1.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, November 18, 2024, and so far it has risen 134.62%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

On the downside, the stock finds support just below today's level from accumulated volume at $2.75 and $2.40.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $2.40 may give a huge drop in the stock price.

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 $0.690 between high and low, or 28.51%. For the last week, the stock has had daily average volatility of 25.60%.

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. 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 period.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.