Sell signal, week 6 · US stocks
Rigetti Computing drops 8% as money flow turns negative and the last counterweight goes
Our view last week
In a week when the tech sector gained 1.8%, Rigetti Computing dropped 8.5% and lost its 100-week average again, in the 16.1 area. A week ago the bounce looked set to switch off the Sell signal; now the decline is back in stride and has handed back nearly all of a 3-week recovery. This technical analysis of Rigetti Computing stock, a volatile name among US tech stocks, finds one counterweight: weekly money flow is positive and improving. Weak price action, contracting volumes.
This week's summary
Weekly money flow, the one counterweight to the decline 7 days ago, has turned negative. Rigetti Computing stock sheds another 8% after last week's 8.5% and prints a fresh 30-day low, in the 13.7 area, while the tech sector slips just 0.5%. In this technical analysis the Sell signal is back in stride on one of the more volatile US stocks: weak price action, with 5 lower highs on the daily chart, and contracting volumes.
IQS Phase
61
ordinary
Signal Strength
61
downtrend making lower lows, pace holding
Sizing
STANDARD
Ranking
#17 / 174
US stocks
Trade P&L %
+7.70%
from signal to date, no stop loss
Rigetti Computing (RGTI) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 17th among the 174 sell signals for US stocks in our ranking, with a signal strength of 61 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimein strong phase
Performanceweekly -0.52% · monthly +5.81%
RGTI belongs to the growth tech sector (reference ETF XLK). The sector is classified in strong phase according to our weekly reading.
restricted Platinum content