Rite Aid

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Nearest Resistance: $2.10

Nearest Support: $1.60

Catalyst: 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."

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