Rite Aid up 35% in Two Months
On February 7th we had a post on RAD noting it was working on a break-out of 15 year resistance.
We also noted the stock’s industry group had favorable technical appearances as well.
We suggested the following in the post about RAD:
If it breaks [resistance], it’s going to target line (2) resistance very, very quickly at $2.60-$2.70 which also happens to represent 38.2% Fib resistance.
In the updated chart below, note that RAD has ripped 35% in a quick two months and remains on target to achieve said resistance in the $2.60-$2.70 area.