TMCnet News
Traders Get Bullish on Shares of Rite Aid, Shares Up 5.5% (RAD)Feb 14, 2012 (SmarTrend(R) Spotlight via COMTEX) -- Rite Aid (NYSE:RAD) is one of today's best performing low-priced stocks, up 5.5% to $1.54 on 1.1x average daily volume. Thus far today, Rite Aid has traded 6.4 million shares, vs. average volume of 5.9 million shares per day. The stock has outperformed the Dow (5.5% to the Dow's -0.1%) and outperformed the S&P 500 (5.5% to the S&P's -0.3%) during today's trading. In the past 52 weeks, Rite Aid share prices have been bracketed by a low of $0.85 and a high of $1.61 and are now at $1.54, 81% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.6%. 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. Based on a current price of $1.54, Rite Aid is currently 4.2% above its average consensus analyst price target of $1.48. Rite Aid shares have support at the 50-day moving average (MA) of $1.32 and additional support at the 200-day MA of $1.18. SmarTrend recommended that subscribers consider buying shares of Rite Aid on October 27th, 2011 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $1.14. Since that recommendation, shares of Rite Aid have risen 28.1%. We continue to monitor RAD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |