BERKELEY, Calif. – Shares of quantum computing firm Rigetti Computing, Inc. (NASDAQ: RGTI) are experiencing a highly volatile trading session, marked by sharp swings and significant volume as investors battle for control. The stock’s performance today is setting up a critical test for the coming week.
As of 10:36 AM EDT, Rigetti stock was trading at $12.98, down 0.77% or $0.10 for the day. The session began with a lower open at $12.91, below the previous close of 13.20**, but the rally was short-lived. Sellers quickly stepped in, pushing the price down to a daily low of $12.86.
Since hitting the low, the stock has been locked in a choppy, sideways pattern, indicating significant indecision in the market. The high trading volume, already exceeding 15 million shares early in the day, underscores the intense interest and conflict between bullish and bearish sentiment.
Outlook for Monday’s Trading
The extreme volatility in today’s session makes Monday’s direction heavily dependent on where the stock closes. Two key levels have been established:
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Support: The daily low of $12.86 has emerged as a critical support line. If the stock breaks and closes below this level, it could signal a win for the bears and lead to further selling pressure on Monday.
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Resistance: The daily high of $13.20 is the immediate resistance. For the bulls to regain control, they need to push the price not only above the current level but also decisively past the previous close of $13.08 and the day’s high.
Given the current struggle, if Rigetti closes the day in this contested range, traders should anticipate continued volatility at the start of next week. A weak close near the lows would set a bearish tone for Monday, while a strong recovery to close above $13.08 could ignite a bullish start to the week.
