$NASDAQ:RGTI 57% Upside: Consolidation Breakout Watch
RGTI has been in a consolidation pattern for the past ~11 trading days. Creating a nice volume shelf of support. It continues to bump up to the line of resistance, but hasn't broken through.Here's the trade:
Conditions:
- The stock price closes above the line of resistance ($13.98)
- Volume is relatively higher than recent bars (a spike)
- Squeeze is firing indicating a positive release (light blue bars)
- MACD has signaled a buy
- Williams %R continues to ascend, preferably into the upper 20%
Entry: Anything above the 13.98 close.
Price Target:
$22.00 - 57% above the resistance line.
Note: There may be some resistance and pullback when trying to cross $17 and $20
Caution!
Quantum computing stocks have been volatile, so pay attention!
Trade active
Opened a trade ~13.60
I'm not a financial advisor and I'm not offering investment advice. Please consult with your own financial advisor prior to making investment decisions!
Good luck and I'm always happy to hear from you.
Good luck and I'm always happy to hear from you.
Related publications
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.
I'm not a financial advisor and I'm not offering investment advice. Please consult with your own financial advisor prior to making investment decisions!
Good luck and I'm always happy to hear from you.
Good luck and I'm always happy to hear from you.
Related publications
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.