Laura McCandless
1 min read
Quantum computing stock Rigetti Computing Inc (NASDAQ:RGTI), like much of the upstart sector, has exploded onto the scene in the last year, racking up a 1,070% 12-month gain. The shares have lost steam somewhat in 2025, down 25% year-to-date and 5.3% in June alone. The silver lining is this pullback has RGTI testing a historically bullish signal.
Per Schaeffer's Senior Quantitative Analyst Rocky White, RGTI has pulled back to its 50-day moving average, within 0.75 of the trendline's 20-day average true range (ATR) after spending at least 80% of the last 10 days and 80% of the last two months above it. Within these parameters, three other signals occurred in the past three years. RGTI was higher one month later after two of those instances, averaging a 4.4% gain. Plus, this trendline provided resistance prior to a couple months ago.
An unwinding of short interest could provide tailwinds as well. Bearish bets have decreased by 16% in the two most recent reporting period, yet of the 55.28 million shares sold short still accounts for 19.3% of the stock's total available float.
Keep an eye on RGTI's 14-Day Relative Strength Index (RSI) as well, last seen at 30, on the cusp of "oversold" territory. This indicates a short-term pop could be in the cards.
