Volatile ride for Rigetti Computing, Inc. stock price on Thursday moving between $15.30 and $20.00
StockInvest.us, 1 month ago
The Rigetti Computing, Inc. stock price gained 31.06% on the last trading day (Thursday, 2nd Jan 2025), rising from $15.26 to $20.00. During the last trading day the stock fluctuated 30.72% from a day low at $15.30 to a day high of $20.00. The price has risen in 6 of the last 10 days and is up by 79.69% 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, 43 million more shares were traded than the day before. In total, 182 million shares were bought and sold for approximately $3.63 billion.
On Dec 20, 2024, it was reported that Craig-Hallum gave RGTI a "Buy" grade with a "initialise" 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 $13.25, 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 $15.30 and $6.46. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, December 19, 2024, and so far it has risen 167.74%. 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 $17.07 and $17.00.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 $17.07. If this is broken, then the next support from accumulated volume will be at $17.00 and $15.44.
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 $4.70 between high and low, or 30.72%. For the last week, the stock has had daily average volatility of 29.32%.
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.
Check full Rigetti Computing, Inc. forecast and analysis here.