- The RGTI stock price has gained 15.54% in its last intraday trading session.
- Rigetti Computing Inc. recently won the Defense Advanced Research Projects Agency (DARPA) award.
Rigetti Computing Inc. (NASDAQ: RGTI) is a full-stack quantum computing service. It provides its services to enterprise, government, and research clients through its Rigetti Quantum Cloud Service platform.
Rigetti Computing Inc. (RGTI) Stock Analysis
RGTI’s share price has gained 15.7% in its last intraday session and currently is trading at $1.40. The stock’s current market capitalization is worth 186.186 million USD.
Are Sellers Active in the 1-Day Chart of RGTI?
Since the start of this August, the RGTI stock price has been forming higher lows, taking support at $1.64. Recently, the price has given the breakdown of the $1.64 support zone and has fallen to the $1.16 level. It formed a base over there. The stock price is currently rising after forming a base. It is aspiring to approach the $1.64 zone to retest that level.
The 100-day and 200-day EMA lines are above the price. RGTI stock’s price is currently approaching to retest the 100-day EMA line. If it forms a bearish candle at the time of retesting the 100-day EMA line, it may continue the fall.
The RSI is below 50, which is marked as bearish territory. However, it has started to slope in the upward direction. It can rise to its 50 level and from there it may face resistance and then again start to slope in the downward direction.
Currently, the RGTI share price is rising as it is in the recovery phase after the breakdown of the $1.64 level. It could also considered as a profit-bookking scenario.
The price can rise to $1.64 to retest this level. Suppose it forms a strong bearish candle at the time of retesting, it may fall to its next immediate support at the $1.16 level. If it also breaks below the $1.16 level, it will continue its fall to the $0.8196 Support level.
However, for the price to be in bullish sentiment, it must reclaim the $1.64 level and should sustain above it. After that the stock price may reach its resistance level at $2.20.
Conclusion
The overall trend of the RGTI share price is bearish. The price is currently in the recovery phase and could reach to retest the $1.64 level. If the price forms a bearish candle below the $1.64 level, it may fall to its immediate support at $1.16 and then to $0.8196. The RGTI stock price may get bullish if it reclaims the $1.64 level and sustains above it. After which it may reach the $2.20 resistance level.
Technical levels
Resistance Levels: $1.64 and $2.20.
Support Levels: $1.16 and $0.8196.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing or trading comes with a risk of financial loss.