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J.C. Penney Co (JCP) Crosses Pivot Point Resistance at $2.99

By Amy Schwartz

J.C. Penney Co (NYSE:JCP) has opened bullishly above the pivot of $2.88 today and has reached the first level of resistance at $2.99. Should the shares continue to rise, the resistance pivots of $3.06 and $3.24 will be of interest.

J.C. Penney Co has overhead space with shares priced $0.00, or 100.0% below the average consensus analyst price target of $3.79. The stock should run into initial resistance at its 200-day moving average (MA) of $8.78 and subsequent resistance at its 50-day MA of $10.40.

In the past 52 weeks, J.C. Penney Co share prices have been bracketed by a current low of $0.00 and a high of $11.30 and are now at $0.00. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of J.C. Penney Co on March 8th, 2018 by issuing a Downtrend alert when the shares were trading at $3.47. Since that call, shares of J.C. Penney Co have fallen 16.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts j.c. penney co

Ticker(s): JCP