Nearest Resistance: $2.10
Nearest Support: $1.60Catalyst: Earnings Pharmacy retailer Rite Aid (RAD) is getting traders' attention today after the company released its fourth-quarter earnings to Wall Street this morning. While analysts had been expecting a 14-cent loss, the firm actually lost 18 cents per share. The earnings miss isn't having too bad of an effect on shares, though: RAD is getting propped up today by decent guidance for the year ahead as well as broad market strength. From a technical standpoint, Rite Aid could be worse off. While shares have pulled back considerably from mid-March highs, this stock is finding support right now at $1.60, a price that just happens to converge with support at the 50-day moving average. Buyers should wait for RAD to catch a more substantive bid off of $1.60 before taking a position in shares. Rite Aid was also featured recently in "5 Stocks Set to Soar off Bullish Earnings." Follow @stockpickr
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