Rite Aid Shows Its Strength As Earnings Approach

On Wednesday, Rite Aid (RAD) received a positive adjustment to its Relative Strength (RS) Rating, from 80 to 87.


When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. This unique rating identifies technical performance by showing how a stock’s price action over the last 52 weeks measures up against that of other stocks on the major indexes.

Over 100 years of market history shows that the best-performing stocks tend to have an RS Rating of at least 80 in the early stages of their moves.

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Rite Aid has moved more than 5% past an 11.68 entry in a first-stage cup without handle, meaning it’s now out of a proper buy zone. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.


While the company’s top line growth fell last quarter from 12% to 11%, the bottom line grew 108%, up from 0% in the previous report. The Pennsylvania-based drugstore company is expected to report its latest numbers on or around Dec. 19.

The company holds the No. 1 rank among its peers in the Retail-Drug Stores industry group. CVS Health (CVS) and Walgreens Boots Alliance (WBA) are also among the group’s highest-rated stocks.


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View more information: https://www.investors.com/news/stocks-with-rising-relative-price-strength-rite-aid/

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