Does the RiteAid short squeeze have another leg?
Updated
RAD has been flying after a long period of consolidation and wek fundamentals.
The Reddit army is marching with the RAD flag. At one point RAD sqeezed 100%
but it has falled back a bit in the profit taking. Still the retracement is shallow
so far. In the close of the trading week, in the last hours price dropped to 2.5 with
support from the anchored mean VWAP and then rose to 2.68. I believe this should be on a
watchlist if you like to trade meme stocks. TUP is now competing with RAD for meme
attention. I will get back into both of them when I find the clear and compelling opening.
I will pay attention to rising volume and rising volatility on a low time frame chart
to make that finding. Shorts may better realize their pain this upcoming week and add a
a bit to the buying pressure allowing for some synergy with new buyers.
The Reddit army is marching with the RAD flag. At one point RAD sqeezed 100%
but it has falled back a bit in the profit taking. Still the retracement is shallow
so far. In the close of the trading week, in the last hours price dropped to 2.5 with
support from the anchored mean VWAP and then rose to 2.68. I believe this should be on a
watchlist if you like to trade meme stocks. TUP is now competing with RAD for meme
attention. I will get back into both of them when I find the clear and compelling opening.
I will pay attention to rising volume and rising volatility on a low time frame chart
to make that finding. Shorts may better realize their pain this upcoming week and add a
a bit to the buying pressure allowing for some synergy with new buyers.
Trade active
RAD popped in the premarket and I took a partial profit. Then fell the rest of the day. Expect more volatility and more profit this week. It is on my meme list.Trade active
Another 4% during a sideways general market- I like it .
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