RGTI slides around 3.5% as downside momentum and earnings uncertainty weigh on the stock

Traders Union
All News
Stocks
Rigetti slides 3.5% today to $12.56

Highlights

Rigetti Computing reports third-quarter earnings on November 10, 2026, with revenue rising from increased sales of quantum systems.
Remaining performance obligations declined year over year as shares rallied ahead of earnings, options activity rose, and analysts maintain a favorable outlook.
Rigetti Computing stock faces medium- and long-term bearish pressure with a projected five-day range of $10.56 to $14.55 and overbought signals warning of potential near-term correction.

Rising revenue and sector optimism offset by falling backlog and volatility bets

Rigetti Computing is scheduled to report third-quarter earnings after market close on November 10, 2026. The company's revenue has been increasing due to higher sales of quantum computing systems, though its backlog of remaining performance obligations has declined from the previous year. Shares recently rallied ahead of the earnings release, accompanied by optimistic sentiment in the broader quantum computing sector and heightened options market activity, indicating expectations for significant volatility around the results. Most analysts maintain a favorable outlook, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, sees Rigetti Computing showing pronounced technical and sentiment-driven weakness. He points out that despite some optimism ahead of earnings, the stock remains vulnerable below key moving averages. He highlights the fading backlog and continued downside momentum as additional concerns. The technical setup favors the bears, with overbought signals suggesting correction risk. "Given the dominance of downside signals and the lack of a strong fundamental catalyst, I consider the current rally unsustainable and expect pressure to persist as traders position defensively into the report," Kharitonov remarks.

Viktoras Karapetjanc, expert at Traders Union, notes that Rigetti's growing revenues and active options market confirm upbeat sector sentiment. He believes analyst views remain constructive, and recent rallies show the bullish structure is intact above key support. Karapetjanc sees further opportunity for an upside move if $13.21 breaks, with positive macro trends in quantum computing still in play. "The market offers setups both short- and medium-term, and I expect further growth potential as Rigetti delivers on results," he affirms.

Sholanke Dele, market strategist, takes a cautious stance on Rigetti. He sees increased volatility and downside risk with the stock under wide selling pressure. Broader market sentiment remains fragile despite sector optimism, and the probability of new lows is elevated. "I remain wary of a false breakout as technical signals point to a likely correction rather than a sustained recovery," Dele states.

Short-term support holds even as momentum signals further bearish pressure

RGTI is trading above its 20-day moving average at $11.71, but remains below the 50-day at $13.91 and the 200-day at $16.78. This configuration confirms near-term support, yet points to ongoing medium- and long-term bearish pressure. Key levels to watch are resistance at $13.21 and support at $12.48, which corresponds with the Ichimoku Kijun level. The MACD and ADX both indicate downside momentum. RSI is neutral, with the Stochastic RSI and CCI both in overbought territory, highlighting possible correction risk. Bull/Bear Power suggests intraday buyers remain active, even as the Awesome Oscillator is neutral.

Earlier, analysts noted that Rigetti Computing remained under persistent technical pressure despite operational progress. The current analysis adds that while shares have rallied ahead of the upcoming earnings release, continued downside momentum and overbought signals highlight the risk of a short-term correction if support at $12.48 fails.

Source of Data: RGTI Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.