Watch for JC Penney to Potentially Rebound After Falling 1.91% Yesterday
Comtex SmarTrend(R) via CMTX - 1 hr 25 mins ago
JCP - J.C. Penney Company Inc.
Sym Last Chg Pct
JCP 7.71 -0.15 -1.91%
JC Penney (NYSE:JCP) traded in a range yesterday that spanned from a low of $7.59 to a high of $8.04. Yesterday, the shares fell 1.9%, which took the trading range below the 3-day low of $7.76 on volume of 32.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
SmarTrend recommended that its subscribers protect gains by selling shares of JC Penney on June 20th, 2013 by issuing a Downtrend alert when the shares were trading at $16.55. Since that call, shares of JC Penney have fallen 52.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
In the past 52 weeks, JC Penney share prices have been bracketed by a current low of $7.59 and a high of $27.00 and are now at $7.70. Over the last five market days, the 200-day moving average (MA) has gone down 1.8% while the 50-day MA has declined 5.6%.
old old news is not "news," stock reacted to that last week -- the financial media bringing it up again and again because they work for the shorting hedge funds trying to keep price down just shows they and you are scared -- why else would you be so nasty and rude?