Rite Aid Participating In Pharmacy/Convenience Store Slide

Specifically, Walgreens Boot Alliance Inc WBA shares were trading lower $1.32 at $85.42, as were Fred's, Inc. FRED shares, which were trading lower by $1.90 at $16.42.

After a flat open, Rite Aid found resistance just above Thursday's close ($5.77) at $5.82 and began to move lower. It has continued to make new lows for the session, with current one standing at $5.38.

If the decline continues, based on the daily charts, there may be additional support at the string of six lows from $5.20 to $5.36 from $5.20 to $5.36 from Feb. 2 through Feb. 9.