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After Yesterday's Rally of 1.43% Shares Could Potentially Pullback

By Amy Schwartz

JC Penney (NYSE:JCP) traded in a range yesterday that spanned from a low of $4.80 to a high of $4.96. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $4.93 on volume of 7.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of JC Penney have traded between a low of $4.17 and a high of $11.99 and are now at $4.89, which is 17% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of JC Penney on December 16th, 2016 by issuing a Downtrend alert when the shares were trading at $8.91. Since that call, shares of JC Penney have fallen 45.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders JC Penney

Ticker(s): JCP