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J.C. Penney Co Rises 2.23% on Heavy Volume: Watch For Potential Pullback

By James Quinn

J.C. Penney Co (NYSE:JCP) traded in a range yesterday that spanned from a low of $4.90 to a high of $5.14. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $5.07 on volume of 8.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, J.C. Penney Co has traded in a range of $4.17 to $11.30 and is now at $5.04, 21% above that low. The 200-day and 50-day moving averages have moved 0.12% higher and 1.35% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of J.C. Penney Co on December 16th, 2016 by issuing a Downtrend alert when the shares were trading at $8.91. Since that call, shares of J.C. Penney Co have fallen 44.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders j.c. penney co

Ticker(s): JCP