Update, June 11, 2015: RAD is flirting with $9.00. I hope you got in!
Since 2015, each time RAD hit its resistance level it reverted back to a strong, sloping trend line. I think that where the stock sits right now serves as a very attractive entry point. I believe that investors will step up and pick up shares should the price dip below $8.00, meaning that your downside is limited. Moreover, RAD is right at its 50 day moving average, which is pictured below.
It's about time that Rite Aid gets some love. It constantly gets overshadowed by CVS and Walgreens, but I think that it's the best in the group. It's for this reason that I own shares in the company, with a long-term outlook. That isn't to say, however, that the short-term isn't attractive. I believe that RAD is looking, well, rad!
First, I want to point out the strong resistance level at $8.50, a price that the stock has encountered several times, and twice has failed to breakout. (See below)
As I have mentioned in several posts before, RAD may be poised to breakout if it can hold its 50 day moving average. I think that this time it will (click the "read more" button to see why).
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