JC Penney (JCP) Approaches New Upside Target of $20.55
Shares of JC Penney (NYSE:JCP) have bullishly opened above the pivot of $19.44 today and have reached the first resistance level of $20.13. Should the shares continue to rise, the resistance pivots of $20.55 and $21.66 will be of interest.
JC Penney has overhead space with shares priced $20.17, or 8.5% below the average consensus analyst price target of $22.06. The stock should find initial resistance at its 50-day moving average (MA) of $20.43 and further resistance at its 200-day MA of $25.59.
In the past 52 weeks, shares of JC Penney have traded between a low of $15.69 and a high of $43.18 and are now at $20.17, which is 29% above that low price. The 200-day and 50-day moving averages have moved 1.36% lower and 2.41% lower over the past week, respectively.
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: pivot alerts JC Penney