Volatile ride for Rigetti Computing, Inc. stock price on Monday moving between $11.87 and $13.83

StockInvest.us, 1 week ago

Rigetti Computing, Inc.

The Rigetti Computing, Inc. stock price gained 2.28% on the last trading day (Monday, 3rd Feb 2025), rising from $13.17 to $13.47. During the last trading day the stock fluctuated 16.51% from a day low at $11.87 to a day high of $13.83. The price has fallen in 6 of the last 10 days but is still up by 37.03% over the past 2 weeks. Volume fell on the last day by -70 million shares and in total, 130 million shares were bought and sold for approximately $1.75 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

On Jan 14, 2025, it was reported that B. Riley gave RGTI a "Buy" grade with a "hold" action.

The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 175.80% during the next 3 months and, with a 90% probability hold a price between $27.10 and $70.04 at the end of this 3-month period.

Rigetti Computing, Inc.

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 $12.90 and $12.26. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Thursday, January 02, 2025, and so far it has fallen -32.65%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $11.24 and $10.94.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Rigetti Computing, Inc. finds support just below today's level at $11.24. If this is broken, then the next support from accumulated volume will be at $10.94 and $10.69.

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 $1.96 between high and low, or 16.51%. For the last week, the stock has had daily average volatility of 13.97%.

Rigetti Computing, Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Check full Rigetti Computing, Inc. forecast and analysis here.