JXMFinancial
Long

Couldnt hold $8.62

NYSE:RAD   RITE AID CORP
46 4 1
Break and hold brings $9.99 into question. Only a matter of time now
So is it positive because it did break out, or you're saying its -ve coz it couldn't stay above 8.62?
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Depending on TF, daily looks great. Im already long and have been but fun really starts over 8.62 (previous high) then sharp pullback. Clear skies to $10 if turnaround story works (fundies meet technicals)
+1 Reply
sunnykg9 JXMFinancial
Thank you for your comment. Also, are you looking at a classic cup and handle breakout scenario?
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Actually, last evening, I wasn't expecting to break 8.63 level and stay above. Weekend. Day Traders Profit Taking. Market Just Picking up. So I was anticipating to close above 8.50 and cross the line with good volume on Monday morning. I am already long and hold my position further. I am also of the view Friday's advance is pure technical and on company's value - not on merger rumor. If merger is confirmed, then $ALTR is fine example (we don't know how much it will extend).
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