Rigetti Computing Shares Face Technical Headwinds

Rigetti US76655K1034

Rigetti Computing's stock extended its losses in the final session before the holiday break. Trading in a thin market, the quantum computing company's shares closed at $24.54, marking a single-day decline of 2.3%. This movement continues a consolidation phase characterized by diminished momentum, following a period of significant volatility earlier in the quarter.

The session preceding the Christmas holiday was marked by notably light trading activity. Share prices oscillated between a daily low of $24.04 and a high of $25.47. A critical indicator of the subdued activity was the trading volume, which came in at approximately 18.14 million shares. This figure stands roughly 74% below the stock's average volume of 70.09 million shares, suggesting institutional players and larger accounts were largely inactive ahead of the market pause.

Notable Session Data:
* Closing Price: $24.54
* Daily Change: -2.30%
* Session Volume: 18.14 million shares
* Average Volume: 70.09 million shares

The retreat to $24.54 further distances the equity from its recent peaks, reflecting a cooling in near-term sentiment among market participants.

Analyzing the Technical Picture

From a chart analysis perspective, Rigetti's shares are currently exhibiting clear short-term weakness. A telling metric is the significant gap below a key moving average.

• 50-Day Simple Moving Average (SMA): $31.24
• Current Price: ~$24.54
• Deviation from 50-Day SMA: Approximately -21%

This substantial negative divergence signals fading momentum over the past several weeks. However, the broader technical backdrop retains a constructive element: the price continues to trade above its 200-day moving average of $23.47, which is widely viewed as a major long-term support level.

The integrity of this 200-day line is crucial. As long as it holds, the overarching trend remains positive. A decisive break below this zone would, from a technical standpoint, open the door to additional downside risk. In contrast, the 52-week high of $58.15, reached in October 2025, represents a distant resistance point and underscores the extent of the preceding correction.

Analyst Perspective and Valuation

Despite the recent price softness, analyst coverage remains engaged. In mid-December, Wedbush Securities initiated coverage on Rigetti Computing with an "Outperform" rating, attaching a price target of $35.00. This firm interprets the current period of weakness more as a potential opportunity than an indication of fundamental issues within the company's business model.

The current consensus price target among analysts sits around $31.22. Based on the recent close of $24.54, this implies significant potential upside, contingent on the stock maintaining support near the $23.47 level and establishing stability.

Company Snapshot

• Last Close: $24.54
• Market Capitalization: ~$8.11 billion
• Beta (Volatility): 1.68 – 2.91 (indicating substantially higher volatility than the broader market)
• Short-Term Trend: Bearish (trading below 50-day SMA)
• Long-Term Trend: Bullish (trading above 200-day SMA)

As markets resume activity after the holidays, focus will shift to whether trading volume returns toward its historical average and if the support area around $23.47 is successfully defended. The equity's response to the return of normal liquidity will provide clues on whether the present consolidation persists or transitions into a more decisive directional move.