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Watch for Shares of J.C. Penney Co (JCP) to Approach Support at $0.14

By Nick Russo

Shares of J.C. Penney Co (NYSE:JCP) opened today below their pivot of $0.16 and have already reached the first level of support at $0.15. Should the shares continue to fall, the support pivots of $0.14 and $0.13 will be of interest.

Potential upside of 2,251.7% exists for J.C. Penney Co, based on a current level of $0.15 and analysts' average consensus price target of $3.63. J.C. Penney Co shares should first meet resistance at the 50-day moving average (MA) of $0.37 and find additional resistance at the 200-day MA of $0.77.

In the past 52 weeks, shares of J.C. Penney Co have traded between a low of $0.15 and a high of $1.26 and are now at $0.15, which is 2% above that low price. The 200-day and 50-day moving averages have moved 1.47% lower and 7.96% lower over the past week, respectively.

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: pivot alerts j.c. penney co

Ticker(s): JCP