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Shares of Rite Aid Fall to a New 52-Week Low

By Amy Schwartz

Rite Aid (NYSE:RAD) traded at a new 52-week low today of $3.62. So far today approximately 2.9 million shares have been exchanged, as compared to an average 30-day volume of 10.1 million shares.

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

In the past 52 weeks, shares of Rite Aid have traded between the current low of $3.62 and a high of $9.47 and are now at $3.65. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.2%.

Potential upside of 88.1% exists for Rite Aid, based on a current level of $3.65 and analysts' average consensus price target of $6.86. The stock should find initial resistance at its 200-day moving average (MA) of $7.84 and further resistance at its 50-day MA of $8.03.

SmarTrend recommended that its subscribers protect gains by selling shares of Rite Aid on January 23rd, 2017 by issuing a Downtrend alert when the shares were trading at $7.17. Since that call, shares of Rite Aid have fallen 48.8%. 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

Ticker(s): RAD