Rigetti Computing Inc. RGTI will report its first-quarter earnings after the market closes today. Wall Street expects the quantum computing startup to post a loss of five cents per share on revenue of $2.55 million.

Despite being down nearly 25% year-to-date, Rigetti has mounted a powerful comeback, with shares gaining over 26% in the past month and an eye-popping 782% over the past year.

Chart created using Benzinga Pro

Read Also: Rigetti Scores $4.6 Million UK Grant To Tackle Quantum Error Correction

Now, three bullish technical signals suggest more upside could be ahead.

1. Price Is Soaring Above Key Moving Averages

Rigetti stock at $11.39 is trading above all major Simple Moving Averages (SMA), including the eight-day ($10.10), 20-day ($9.31), 50-day ($9.03) and even the 200-day SMA at $6.03. This alignment typically signals a sustained uptrend.

2. Momentum Indicators Remain Positive

The Moving Average Convergence Divergence (MACD) — a trend-following momentum indicator — currently sits at 0.43, flashing bullish strength. Meanwhile, Rigetti's Relative Strength Index (RSI) is at 64.32, suggesting strong buying interest without being overbought.

3. Analyst Sentiment Supports The Move

The stock carries a consensus Buy rating, with recent analyst targets from Benchmark and Needham averaging $15 — implying nearly 32% upside. The official consensus price target is $10.57, right around current levels, but bullish momentum could fuel a breakout if the first quarter surprises to the upside.

Rigetti has been gaining investor attention as quantum computing inches closer to real-world utility. If earnings confirm financial stability or hint at customer growth, these bullish technicals could amplify the reaction.

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Photo: Courtesy Rigetti Computing