Looking over the charts and indicators for Rite Aid Corp. (RAD) tells me that stock is ready for an upside breakout. Let's visit with the charts of the largest drugstore chain on the East Coast.
In this daily bar chart of RAD, below, we can see that prices have been making higher lows since August and they are above the rising 200-day moving average line. This long-term indicator was tested successfully in March and April. Just last week RAD closed above the bottoming 50-day moving average line.
The On-Balance-Volume (OBV) jumped up sharply in December and has continued to rise telling us that buyers of RAD have been more aggressive.
The Moving Average Convergence Divergence (MACD) has been hugging the zero line for most of the past year but is now poised to move above it for an outright buy signal.
In this weekly bar chart of RAD, below, we used a log scale to better display the price action. Prices suffered a huge decline the past few years but the story changed in late 2019. 
Prices are trading above the rising 40-week moving average line and the weekly OBV line is up from its 2019 low. The MACD oscillator on this longer time frame is still above the zero line in positive territory.
In this daily Point and Figure chart of RAD, below, we can see a very modest price target of $16 being projected.
In this weekly Point and Figure chart of RAD, below, the software is projecting a potential upside price target in the $39-$40 area.
Bottom line strategy: RAD seems to be off everyone's radar and that makes it more interesting to me. Aggressive traders could go long RAD at current levels risking a close below $11. Add on strength above $17 and $18. The $39-$40 area is our price objective.
