"What's interesting about RGTI is the trend line – if it breaks, we could see a big run up into earnings." Nate Bear, Lead Technical Tactician, Monument Traders Alliance Earnings season is underway, and if you're a newer trader, the truth about trading earnings is… It's vital to avoid guessing. Instead, I like to look for charts with already established momentum. And there's one company on my watchlist right now that fits the bill. Watchlist stock: Rigetti Computing Inc. (RGTI) Yesterday, Rigetti Computing Inc. (Nasdaq: RGTI) came across my S.A.M Scanner and it was love at first sight. Here are a few reasons why I like RGTI for a potential trade… For one, It has a weekly A+ squeeze, meaning it's coiling like a spring for a potential move. But the real interesting thing about RGTI is it has a 22% short float, which means a high amount of traders are shorting it. This could create a "short squeeze" scenario where we see an even bigger move. As you'll see in the chart below, RGTI has a squeeze with a consistent trend line leading up to earnings. If RGTI breaks through that trend line, this stock could see a big run heading into earnings. |
No comments:
Post a Comment