Rigetti Computing Inc. (RGTI) Elliott Wave Analysis | Daily Chart

Technical Analysis – Trading Lounge

• FUNCTION: Trend
• MODE: Motive
• STRUCTURE: Impulsive
• POSITION: Wave V
• DIRECTION: Uptrend

Analysis:
On the daily chart, Rigetti Computing Inc. (RGTI) has broken out from a running triangle pattern, indicating the initiation of Wave V. This move follows a consolidation phase that completed Wave IV. The breakout is accompanied by a rise in momentum and volume—key indicators that support a sustained bullish continuation.

Price is now expected to trend higher, with resistance levels projected between $35 and $45, aligning with the expected move post-triangle breakout. Traders should monitor for follow-through buying to confirm the bullish structure remains intact.
 

Rigetti Computing Inc. (RGTI) Elliott Wave Analysis | Weekly Chart

Technical Analysis – Trading Lounge

• FUNCTION: Trend
• MODE: Motive
• STRUCTURE: Impulsive
• POSITION: Wave V
• DIRECTION: Uptrend

Analysis:
The weekly chart reinforces the bullish view, showing that Wave IV completed as a contracting triangle, in line with Elliott Wave alternation principles (as Wave II was a sharp move). The early July breakout above the triangle boundary marks the beginning of Wave V, which is now in progress.

Targets:

• Initial resistance around $40
• Potential extension to $65, based on a 1.618 Fibonacci projection of Wave I from the Wave IV low

This structure remains valid as long as the price stays above the Wave IV low.
 

Technical Analyst: Dhiren Pahuja

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