Why do the analysts wait until it's too late to get in? Why do they wait until RAD breaks the resistance of $9 to give a buy signal when they can get in cheaper? This is what I don't get. See the news below.
Drugstore chain Rite Aid (RAD - Get Report) is showing traders a bounce of its own for technical reasons this afternoon.
Nearest Resistance: $9
Nearest Support: $8.25
Catalyst: Technical Setup
Rite Aid has been forming a bullish ascending triangle setup in the long-term, and it's getting close to triggering a buy signal with a breakout above $9. Shares are within 25 cents of that key resistance level as I write today.
If Rite Aid buyers can propel this stock above $9, it becomes buyable. Just keep a tight protective stop in place if you decide to jump into this retail pharmacy chain