Rigetti Computing Inc. (RGTI) Elliott Wave Forecast | Trading Lounge Daily Chart
Rigetti Computing Inc. (RGTI) Daily Chart Analysis
Rigetti Computing Inc. (RGTI) Technical Analysis
FUNCTION: Trend
MODE: Motive
STRUCTURE: Impulsive
POSITION: Wave V
DIRECTION: Uptrend
Technical Analysis:
The daily chart for Rigetti Computing Inc. (RGTI) reveals a bullish breakout from a running triangle pattern, confirming the start of Wave V. This development succeeds a completed Wave IV consolidation phase, aligning with classic Elliott Wave Theory. A notable increase in trading volume and momentum supports the bullish continuation of this uptrend.
Going forward, Rigetti Computing stock price is projected to climb, encountering resistance in the $35–$45 range. These levels align with typical post-triangle breakout projections. Traders should look for sustained buying activity to validate the integrity of this Elliott Wave structure.
Rigetti Computing Inc. (RGTI) Elliott Wave Forecast | Weekly Chart
Rigetti Computing Inc. (RGTI) Technical Analysis – Trading Lounge
FUNCTION: Trend
MODE: Motive
STRUCTURE: Impulsive
POSITION: Wave V
DIRECTION: Uptrend
Weekly Chart Analysis:
The weekly Elliott Wave chart for RGTI further supports the bullish setup. Wave IV formed as a contracting triangle, consistent with Elliott Wave alternation rules, given Wave II's sharper retracement. A decisive breakout in early July above the triangle boundary marks the initiation of Wave V, which is actively unfolding.
Targets:
- Initial resistance near $40
- Potential upside towards $65, calculated using the 1.618 Fibonacci extension of Wave I from the Wave IV low
This RGTI Elliott Wave forecast remains intact as long as the price holds above the Wave IV low, suggesting continued strength in this uptrend scenario.
Technical Analyst: Dhiren Pahuja
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