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After Yesterday's Decline of 2.37%, Rite Aid Offers Investors Better Value

By Amy Schwartz

Rite Aid (NYSE:RAD) traded in a range yesterday that spanned from a low of $4.65 to a high of $4.87. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $4.71 on volume of 13.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Rite Aid share prices have moved between a 52-week high of $9.47 and a 52-week low of $4.61 and are now trading 2% above that low price at $4.72 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

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 32.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Rite Aid

Ticker(s): RAD