RITE-AID CORPORATION - RAD
UBS analyst upgraded this stock to a "buy" last month. Monthly chart shows a large consolidation, 3 wave abc corrective pattern. Stock is currently trading near its key LIS and support of $1.68. There is no buy signal/pattern on this timeframe. Look for the $1.68 low to break in the weeks/months ahead.
Weekly chart shows the downside momentum to be increasing. Price is currently trading below the 8ema. December's trading activity reduced the price of the stock by half.
Daily chart shows a kicker signal evident, where trading psychology changed dramatically as stockholders gapped down the stock at the open in their haste to dump their holdings. No buy signal/pattern evident.
Sunday, January 06, 2008
RAD Analysis for 01.06.2008
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