After Yesterday's Rally of 3.50% Shares Could Potentially Pullback
JC Penney (NYSE:JCP) traded in a range yesterday that spanned from a low of $8.46 to a high of $8.87. Yesterday, the shares gained 3.5%, which took the trading range above the 3-day high of $8.65 on volume of 7.8 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 $6.00 and a high of $11.99 and are now at $8.78, which is 46% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.
SmarTrend is tracking the current trend status for JC Penney and will alert subscribers who have JCP in their portfolio or watchlist when shares have changed trend direction.
Keywords: rebounders JC Penney