Volatile ride for Rigetti Computing, Inc. stock price on Tuesday moving between $10.39 and $14.07

StockInvest.us, 3 weeks ago

Rigetti Computing, Inc.

The Rigetti Computing, Inc. stock price gained 42.22% on the last trading day (Tuesday, 21st Jan 2025), rising from $9.83 to $13.98. During the last trading day the stock fluctuated 35.42% from a day low at $10.39 to a day high of $14.07. The price has been going up and down for this period, and there has been a -26.5% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 71 million more shares were traded than the day before. In total, 223 million shares were bought and sold for approximately $3.12 billion.

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 235.67% during the next 3 months and, with a 90% probability hold a price between $24.82 and $77.05 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 $9.99 and $9.85. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 -30.10%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

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 $3.68 between high and low, or 35.42%. For the last week, the stock has had daily average volatility of 24.49%.

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.

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