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Investors look to Lighten Up on Shares of J.C. Penney Co, Shares Down 14.4% (JCP)

By David Diaz

J.C. Penney Co (NYSE:JCP) is one of today's worst performing low-priced stocks, down 14.4% to $4.03 on 2.2x average daily volume. J.C. Penney Co has traded 26.4 million shares thus far today, vs. average volume of 12.2 million shares per day. The stock has underperformed the Dow (-14.4% to the Dow's 0.1%) and underperformed the S&P 500 (-14.4% to the S&P's 0.1%) during today's trading.

J. C. Penney Company, Inc., through its subsidiary, operates department stores in the United States and Puerto Rico. The Company provides merchandise and services to consumers through department stores, catalog departments, and the Internet. J.C. Penney markets primarily family apparel, jewelry, shoes, accessories, and home furnishings.

J.C. Penney Co (NYSE:JCP) has potential upside of 60.1% based on a current price of $4.03 and analysts' consensus price target of $6.46. J.C. Penney Co shares should first meet resistance at the 200-day moving average (MA) of $8.78 and find additional resistance at the 50-day MA of $10.40.

In the past 52 weeks, J.C. Penney Co share prices have been bracketed by a current low of $3.85 and a high of $11.30 and are now at $4.03. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.

SmarTrend is tracking the current trend status for J.C. Penney Co and will alert subscribers who have JCP in their portfolio or watchlist when shares have changed trend direction.

Keywords: penny stocks j.c. penney co

Ticker(s): JCP