After Yesterday's Decline of 4.34%, Rite Aid Offers Investors Better Value
Rite Aid (NYSE:RAD) traded in a range yesterday that spanned from a low of $6.63 to a high of $6.85. Yesterday, the shares fell 4.3%, which took the trading range below the 3-day low of $6.80 on volume of 31.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
SmarTrend is monitoring the recent change of momentum in Rite Aid. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Rite Aid in search of a potential trend change.
Rite Aid share prices have moved between a 52-week high of $9.47 and a 52-week low of $5.88 and are now trading 14% above that low price at $6.67 per share. The 200-day and 50-day moving averages have moved 0.21% lower and 0.08% higher over the past week, respectively.
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