Rite Aid Corp. RAD
Everyone should be familiar with a household name like Rite Aid. The stock has been on something of a downtrend for the past month, and seems to be ready to bounce off of oversold territory. A year ago this time, it was trading in the .90-range, and ran as high as 2.12 by mid-March. Now that RAD has returned to a support level, we want to put it on our watchlist, as a longer-term play to follow in the coming months.
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PURE Bioscience PURE
PURE has recently begun an uptrend off of its 52-wk low of .90, which it reached just under a month ago. As you can see from the included chart, the stock had traded between the 2.00-4.00 range for the majority of this year. Now that we are starting to see a rebound on this stock, we have a positive outlook that the stock will recover and trend upward over the next couple of months.
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Dragonwave, Inc. DRWI
DRWI is another big board play that just hit it’s 2.05 52-wk low on October 1st. Over the past few months, the stock has struggled to get above its 50DMA, currently sitting at 2.33. Provided a break past the resistance at that level, we could see a nice breakout. That is precisely the reason we are adding DRWI to the watchlist this morning.
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Extended Watchlist:
LNGT, PPHM, PROT, PEIX, BIOF