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Recent 52-Week Low Surpassed in Shares of Rite Aid Corp (RAD)

By Shiri Gupta

Rite Aid Corp (NYSE:RAD) traded today at a new 52-week low of $1.09. Approximately 4 million shares have changed hands today, as compared to an average 30-day volume of 13.1 million shares.

Rite Aid Corporation operates a retail drugstore chain in various states and the District of Columbia. The Company sells prescription drugs, as well as other products such as nonprescription medications, health and beauty aids, and cosmetics.

Rite Aid Corp has overhead space with shares priced $1.09, or 45.5% below the average consensus analyst price target of $2.00. Rite Aid Corp shares should first meet resistance at the 50-day moving average (MA) of $1.38 and find additional resistance at the 200-day MA of $1.72.

Over the past year, Rite Aid Corphas traded in a range of $1.09 to $2.55 and are now at $1.09. The 200-day and 50-day moving averages have moved 0.74% lower and 3.56% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Rite Aid Corp on July 2nd, 2018 by issuing a Downtrend alert when the shares were trading at $1.64. Since that call, shares of Rite Aid Corp have fallen 32.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows rite aid corp

Ticker(s): RAD