RGTI Price Prediction Next Week
Analysis and Insights
News and Event Impact:
Rigetti Computing (RGTI) is poised to benefit from the upcoming NVIDIA GTC conference (March 17-21), where it will participate in the Quantum Day, potentially unveiling new advancements in quantum computing. This event has historically catalyzed stock price movements for participating companies, as seen in previous years.
Additionally, D-Wave Quantum's recent breakthrough in quantum computing has positively impacted RGTI stock, driving a 20% surge. This demonstrates the sector's sensitivity to positive news and technological advancements.
Technical Analysis:
Price Action: RGTI closed at $8.75 on March 13, with a 24-hour volume of 67.3 million shares. The stock has shown volatility, with a pre-market drop of -0.89% and a post-market rise of +1.49%.
RSI: The Relative Strength Index (RSI) for RGTI is 44.66, indicating the stock is not oversold but is in a neutral zone.
MACD: The MACD line (-0.84) is slightly below the signal line (0.03), suggesting a potential bullish crossover.
Fibonacci Levels: Key resistance levels are at $9.24 (R1) and $10.77 (R3), while support is at $7.35 (S1).
Fundamental Analysis:
Analyst Sentiment: RGTI has a Strong Buy consensus rating with an average price target of $14.80, implying significant upside potential.
Insider Activity: Recent insider selling has raised concerns, but analysts remain optimistic about RGTI's strategic partnerships and technological progress.
Price Prediction and Recommendation:
Based on the upcoming GTC conference, positive analyst sentiment, and potential catalysts in quantum computing advancements, RGTI is likely to experience upward momentum. However, technical resistance at $9.24 and $10.77 could pose challenges.
Predicted Price for Next Trading Week: $9.50
Recommendation: Buy on dips near the $8.36 support level, targeting the $9.24 resistance level.
RGTI Similar Chart Price Prediction
The price of RGTI is predicted to go up 12.12%, based on the high correlation periods with HOFT. The similarity of these two price pattern on the periods is 98.04%.
RGTI
HOFT
Up: 12.12%Similarity: 98.04%
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RGTI Analyst's Forecast
David Williams
Benchmark
Strong Buy
2025-02-21
Price Target
$2.5 → $14
Upside
+30.23%
Benchmark analyst David Williams raised the firm's price target on Rigetti Computing to $14 from $2.50 and keeps a Buy rating on the shares. After having hosted CEO Subodh Kulkarni and CFO Jeff Bertelsen for a virtual investor group call last week, the firm came away with "increased confidence" in the company's technology roadmap and continued progress toward achieving internal fidelity targets, the analyst tells investors. Benchmark continues to view Rigetti's superconducting approach and modular architecture as "fundamental advantages to overcoming the scalability challenge in gate-based systems" and views the company as "well positioned with a compelling architecture and significant IP moat," the analyst added.
Craig Ellis
B. Riley Securities
Strong Buy
2025-01-14
Price Target
$4 → $8.5
Downside
-5.03%
Richard Shannon
Craig-Hallum
Strong Buy
2024-12-20
Price Target
$12
Upside
+28.07%
