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Look for Shares of J.C. Penney Co to Potentially Pullback after Yesterday's 2.06% Rise

By David Diaz

J.C. Penney Co (NYSE:JCP) traded in a range yesterday that spanned from a low of $2.85 to a high of $3.00. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $2.96 on volume of 17.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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.

J.C. Penney Co share prices have moved between a 52-week high of $11.30 and a 52-week low of $2.35 and are now trading 26% above that low price at $2.95 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.

Keywords: rebounders j.c. penney co

Ticker(s): JCP