• Return to Headlines

SmarTrend Watching for Potential Pullback in Shares of J.C. Penney Co After 2.06% Gain

By Nick Russo

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.

In the past 52 weeks, J.C. Penney Co share prices have been bracketed by a low of $2.35 and a high of $11.30 and are now at $2.95, 26% above that low price. 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 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: rebounders j.c. penney co

Ticker(s): JCP