NEW BULLISH Plays
Rite Aid Corp. - RAD - close: 1.66 change: +0.00
Stop Loss: 1.54
Current Gain/Loss: + 0.0%
Time Frame: 4 to 6 weeks
New Positions: Yes, see below
Why We Like It:
RAD operates approximately 4,700 drug stores across the U.S. The stock appears to be ignoring the market's decline today. Shares recently broke out from a three-week consolidation and traders bought the dip this morning. The trend is bullish but I would consider this an aggressive trade since we might be going against the grain if the major indices continue to sink.
I am suggesting small bullish positions at the opening bell. We'll try and limit our risk with a stop loss at $1.54. More conservative traders may want to use a stop closer to $1.59 instead.
Small Positions @ the Open
Suggested Position: buy RAD stock @ (the open)
Entry on March 07 at $ xx.xx
Earnings Date 04/12/12 (unconfirmed)
Average Daily Volume = 8.7 million
Listed on March 06, 2011