Hello traders,
Here’s my analysis on Rigetti Computing (RGTI). The current price action indicates a potential for a bullish reversal, with key technical levels and imbalances offering opportunities for long-term growth.
Key Observations:
Support Zone: Price is approaching a strong support area around $5.00-$5.50, with significant demand historically observed in this zone.
Imbalances:
Lower Imbalance Zones: These zones around $4.50-$5.00 could act as magnets for price stabilization before a reversal.
Upper Imbalance Zones: Imbalances near $12 and $16 provide potential upside targets for long-term bullish movements.
Gap and BPR: A gap near $14 aligns with the Break of Price Range (BPR), signaling a key area to watch for future price action.
Price Resistance: The $21-$22 level serves as the ultimate resistance and a potential long-term target.
Strategy:
Buy Entry:
Near the $5.00-$5.50 support zone or upon confirmation of demand in lower imbalance zones.
Targets:
First Target: $12 (upper imbalance).
Second Target: $16 (gap fill and imbalance).
Final Target: $21-$22 (major resistance).
Stop Loss: Below $4.50 to manage risk effectively.
Supporting Indicators:
RSI: Approaching oversold conditions, suggesting a potential reversal soon.
Volume: Noticeable spikes in volume around the current levels indicate increased market interest.
Long-Term Outlook:
Rigetti Computing is showing signs of building a strong foundation for a bullish trend. The imbalances, coupled with historical demand zones, offer significant upside potential for long-term investors. Patience will be key to capitalize on this opportunity.
What are your thoughts on this setup? Share your feedback and alternative perspectives below!
Trade safe and stay disciplined! 🚀
#RGTI #TechnicalAnalysis #BullishOutlook #AIStocks #QuantumComputing #TradingPlan #SupportResistance #LongTermInvesting
Here’s my analysis on Rigetti Computing (RGTI). The current price action indicates a potential for a bullish reversal, with key technical levels and imbalances offering opportunities for long-term growth.
Key Observations:
Support Zone: Price is approaching a strong support area around $5.00-$5.50, with significant demand historically observed in this zone.
Imbalances:
Lower Imbalance Zones: These zones around $4.50-$5.00 could act as magnets for price stabilization before a reversal.
Upper Imbalance Zones: Imbalances near $12 and $16 provide potential upside targets for long-term bullish movements.
Gap and BPR: A gap near $14 aligns with the Break of Price Range (BPR), signaling a key area to watch for future price action.
Price Resistance: The $21-$22 level serves as the ultimate resistance and a potential long-term target.
Strategy:
Buy Entry:
Near the $5.00-$5.50 support zone or upon confirmation of demand in lower imbalance zones.
Targets:
First Target: $12 (upper imbalance).
Second Target: $16 (gap fill and imbalance).
Final Target: $21-$22 (major resistance).
Stop Loss: Below $4.50 to manage risk effectively.
Supporting Indicators:
RSI: Approaching oversold conditions, suggesting a potential reversal soon.
Volume: Noticeable spikes in volume around the current levels indicate increased market interest.
Long-Term Outlook:
Rigetti Computing is showing signs of building a strong foundation for a bullish trend. The imbalances, coupled with historical demand zones, offer significant upside potential for long-term investors. Patience will be key to capitalize on this opportunity.
What are your thoughts on this setup? Share your feedback and alternative perspectives below!
Trade safe and stay disciplined! 🚀
#RGTI #TechnicalAnalysis #BullishOutlook #AIStocks #QuantumComputing #TradingPlan #SupportResistance #LongTermInvesting
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.