Rigetti's 1770% Bullish Streak Hits Q2 Earnings — Is There More Fuel Left?

Rigetti Computing Inc. RGTI isn’t just riding a wave – it’s surfing a quantum tide that’s left skeptics scrambling for their slide rules. The stock, up a staggering 1,770% over the past year, now finds itself at a fascinating inflection point: Wall Street expects its second-quarter report to show a modest $1.88 million in revenue and a loss of just four cents per share, according to Benzinga Pro data. That’s peanuts in the big-cap tech world, but for a quantum computing upstart, it’s enough to make the market hold its breath.

Track RGTI stock performance here.

Technical Tailwinds In Full Force

Chart created using Benzinga Pro

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If you’re looking for reasons behind RGTI’s 24.5% pop over the past month, the charts tell a compelling story. The share price of $15.84 sits comfortably above every meaningful moving average—eight-day, 20-day, 50-day, and even the 200-day, which is way down at $9.94. That’s not just bullish; that’s rocket-fuel bullish.

The MACD (moving average convergence/divergence) indicator reads a robust 0.63, flashing a clear bullish signal, and the RSI (relative strength index) at 56.82—though technically inching toward overbought territory—suggests there’s still gas in the tank. With momentum traders salivating and long-term holders sitting on hefty gains, Rigetti’s tape is as clean as it gets for a bullish setup.

Earnings: Catalyst Or Curveball?

Tuesday’s numbers could either confirm the quantum revolution narrative or remind investors that scaling a futuristic computing platform is not for the faint of heart. The bullish technicals suggest optimism, but the market’s real test will be how management frames the growth runway, particularly around their first-in-the-industry multi-chip quantum processor and its adoption trajectory.

If the earnings call delivers on guidance, expect traders to push for a test of the $21.42 52-week high. A revenue miss or vague forward-looking statements, however, could invite a bout of profit-taking, especially given the stock’s parabolic rise.

RGTI’s chart is lined with green lights, but in quantum computing—and Wall Street hype cycles—momentum can flip faster than a qubit.

Investors betting long are banking not just on numbers, but on the story remaining as futuristic and irresistible as it has been all year.

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