Following a false breakout/whipsaw buy signal with RAD (Rite Aid Corp) very briefly popping above both the price channel & the 3.79 resistance level, RAD reversed & hit the suggested stop of any move below 3.55 for a 6.6% loss. RAD will remain on watch for another possible swing trade but this recent trade will now be moved to the Completed Trades category. Previous & updated daily charts:
The following notes & chart outline the entry criterion, price targets, suggested stop & beta-adjustment for a swing trade in RAD, Rite Aid Corp.
The following trade ideas have been removed from the Active Short Trades categories as they have either exceeded their previous suggested stops (or any reasonable stop, if none suggested) or the stock simply no longer looks to offer an attractive R/R at this time. Some of these trades may have already hit one or more profit targets while others did not. Most trade ideas on RSOTC are immediately removed from the Active Trades category upon reaching the final profit [...]
RAD offers an objective short entry on today's gap below this well-defined uptrend line/bearish rising wedge pattern. My preferred target is T2 (3.87) with a suggested stop over the 5.90 area.