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Watch for J.C. Penney Co to Potentially Pullback After Gaining 2.23% Yesterday

By Nick Russo

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.

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.

J.C. Penney Co share prices have moved between a 52-week high of $11.30 and a 52-week low of $4.17 and are now trading 21% above that low price at $5.04 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has remained constant.

Keywords: rebounders j.c. penney co

Ticker(s): JCP