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JC Penney Bullish Moving Average Crossover Alert (JCP)

By Amy Schwartz

Today, shares of JC Penney (NYSE:JCP) have crossed bullishly above their 10-day moving average of $9.41 on a volume of 13.0 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, JC Penney has traded in a range of $6.00 to $11.99 and is now at $9.77, 63% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.

SmarTrend recommended that subscribers consider buying shares of JC Penney on June 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.46. Since that recommendation, shares of JC Penney have risen 8.2%. We continue to monitor JCP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses JC Penney

Ticker(s): JCP