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Shares of Rite Aid (NYSE: RAD) are down 4.4 percent amid investor speculation on common trends in its price graph.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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Rite Aid has been testing the $7 price level since the drug retailer's positive Q4 earnings release in April, followed by a short-lived rally to all-time highs of $8.61. Following Rite Aid's rally from late April to early June, shares faced a modest sell-off, retracing back to the low $7 range.
It appears that traders have identified the $7 price level as a focus, being right above the mean 50 percent level year to date.