RAD bullish pattern repetition?

NYSE:RAD   Rite Aid Corporation
Similar pattern formation to Jul and Oct 2022.
High Stoch and strength from a rising RSI can help boost the price over an estimated 3-month range.
MACD at zero level cross. Good entry point. We want to see this MACD maintain well over the zero level along with an RSI maintained over 50.
More peaks above 80 in Stochastics can help support the bullish thesis.
Assumption is a Q3-2022 pattern repetition.
A bullish engulfing candle is expected but is a lagging indicator on such a chart. It can be used as a trend confirmation.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.