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Watch for JC Penney to Potentially Rebound After Falling 2.59% Yesterday

By David Diaz

JC Penney (NYSE:JCP) traded in a range yesterday that spanned from a low of $5.82 to a high of $6.03. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $5.88 on volume of 7.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of JC Penney on December 16th, 2016 by issuing a Downtrend alert when the shares were trading at $8.91. Since that call, shares of JC Penney have fallen 32.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, JC Penney share prices have been bracketed by a current low of $5.82 and a high of $11.99 and are now at $5.84. 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 JC Penney

Ticker(s): JCP