Rite Aid Corporation (NYSE:RAD) fell by -0.79% in Thursday’s trading session from $2.52 to $2.50. The price has fallen in 4 of the last 10 days, but is still up by 5.93% during the last two weeks. There was a decrease in both volume and price. This is usually interpreted as a good sign as traders widely believe falling stock should see declining volume. Traded activity experienced a fall of -11.33 million shares and in total 13.66 M shares exchanged hands for about $34.14 million.
Inside RAD’s Recent Trend
Rite Aid Corporation (RAD) lies in the middle of a very wide and falling trend in the short term and pointed towards extra losses. Short-term traders are anticipated to see a retreat of -19.99% over the course of a quarter and, with 90% chance the price will be floating in the range of $1.00 and $2.65 in this timeframe.
Rite Aid Corporation Technical Signals
RAD has witnessed its long term and short term MA triggering a buy signal. Many traders watch for short-term averages to cross above long-term averages to signal the beginning of a uptrend. Upon corrections, the price will meet support from the averages between $2.48 and $2.35. A break down through these support points will trigger sell signals. Some other technical concerns emerged as well, putting in risk the future growth of the stock in the next couple of days. Its pivot point high generated sell signal on Wednesday September 13, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. The downbeat movement of both volume and price during the recent session is interpreted as a good sign because traders usually believe falling stock should see declining volume.
Rite Aid Corporation (NYSE:RAD) Support And Resistance Levels
Rite Aid Corporation (RAD) recorded volume accumulation so there will probably be a surplus of buyers at $2.48. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $2.58, $2.89 and $2.95.
Accumulated volume is going to prevent the price from rising further at $2.58 and this action will lead the price to take a temporary pause or stay muted for a few days.
Rite Aid Corporation (RAD) Risk Assessment
A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.09 between high and low, or 3.70%. The average volatility for the past week stood at 4.66%.