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After Yesterday's Rally of 4.51% Shares Could Potentially Pullback

By David Diaz

Rite Aid Corp (NYSE:RAD) traded in a range yesterday that spanned from a low of $2.33 to a high of $2.45. Yesterday, the shares gained 4.5%, which took the trading range above the 3-day high of $2.44 on volume of 8.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Rite Aid Corp on June 30th, 2017 by issuing a Downtrend alert when the shares were trading at $2.78. Since that call, shares of Rite Aid Corp have fallen 16.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, Rite Aid Corp has traded in a range of $2.21 to $8.77 and is now at $2.44, 11% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

Keywords: rebounders rite aid corp

Ticker(s): RAD