RAD Rite Aid Bull Flag consolidation

AwesomeAvani Updated   
RAD recently popped in a big way and on the 2H chart is now settled in consolidation

about 67% above the prior base. That is to say, it is in a horizontal channel awaiting

further volume and direction from traders. The bias is for a bullish breakout of

continuation and momentum. Potentially RAD could rise the height of the flag pole

but this seems unlikely given the current general market. the dual RS indicator shows

support at the 50 level a good sign the retracement is over, The MACD lines are dancing

around under the histogram. I am putting this on watch. If RAD goes over the top of the

channel I will go long. If it goes under the channel I will go short. I could do both and hedge

but that is complicated and with more risk. The stop loss is outside the opposite side

of the channel. My target is a more up or down about 50% of the completed move represented

by the flagpole. I consider RAD a mem stock with a potential short squeeze in process.

Buckle up and drive safely. DYODD.
Trade active:
RAD broke down out of the consolidation parallel channel of the flag. I have entered
short. This is the best direction of the moment especially considering weak
fundamentals and meme traders may have moved on. I note that TUP is moving downside steeply.

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