RGTI Technical Analysis - RIGETTI COMPUTING INC

Technical Rating and Analysis

We assign a technical rating of 9 out of 10 to RGTI. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, RGTI is showing a nice and steady performance.

The long and short term trends are both positive. This is looking good!

RGTI is part of the Semiconductors & Semiconductor Equipment industry. There are 112 other stocks in this industry. RGTI outperforms 100% of them.

A new 52 week high is currently being made by RGTI, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.

In the last month RGTI has a been trading in the 13.82 - 22.13 range, which is quite wide. It is currently trading near the high of this range.

Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.

RGTI has an average volume of 43651900 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

Looking at the yearly performance, RGTI did better than 99% of all other stocks. However, this overall performance is mostly based on the strong move around 10 months ago.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

RIGETTI COMPUTING INC / RGTI Weekly stock chart

RIGETTI COMPUTING INC / RGTI Daily stock chart

Setup Rating and Analysis

Although RGTI has an excellent technical rating, it does not offer a high quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

12.77

22.21

When analyzing the support we can see 4 important areas.

A support zone ranging from 15.76 to 16.03. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @14.39 from a trend line in the daily time frame.
Support @14.12 from a horizontal line in the daily time frame.
Support @12.90 from a trend line in the weekly time frame.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for RGTI is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for RGTI is up.
ChartMill Relative Strength	99.89	POSITIVE	RGTI has a high relative strength, it outperformed 99.89% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of RGTI is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of RGTI is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of RGTI is above the rising SMA(200).
Relative Strength Index/RSI (14)	77.29	OVERBOUGHT	The high RSI value suggests RGTI may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.61	POSITIVE	The MACD value suggests RGTI has a positive trend.
Stochastics (14,3)	92.38	OVERBOUGHT	The high Stochastics value suggests RGTI may be overbought.
Average True Range in percent/ATR (20)	5.56	HIGH VOLATILITY	The high ATR as a percentage value for RGTI suggests high volalility.
Average Directional Index/ADX (14)	25.3	POSITIVE	The high ADX value value for RGTI suggests a strong trend.