Rite Aid appears to have formed a Cup & Handle Pattern and higher swing low at $1.71 and the 10 EMA is close to breaking above the 50 EMA.
A move above the rim of the cup along with the support of other technical indicators could see RAD reach up to $2.80. With a Risk:Reward of 1:5, longs may see this as an attractive play.
Caution: Rite Aid is scheduled to release earnings on 12/21/17 with analysts forecasting -$.02 for the quarter. Last quarter RAD reported a negative surprise of -$.05 versus a projected -$.02.
A move above the rim of the cup along with the support of other technical indicators could see RAD reach up to $2.80. With a Risk:Reward of 1:5, longs may see this as an attractive play.
Caution: Rite Aid is scheduled to release earnings on 12/21/17 with analysts forecasting -$.02 for the quarter. Last quarter RAD reported a negative surprise of -$.05 versus a projected -$.02.
AlgoTrend Capital LLC