J. C. Penney Company, Inc. (JCP): Watch Out For Technical Signs

  1. C. Penney Company, Inc. (NYSE:JCP) fell by -1.52% in Thursday’s trading session from $4.29 to $4.23 The stock price went upward in 7 of the last 10 days and has generated 10.31% during the last two weeks. There was a decrease in both volume and price. This is usually interpreted as a good sign as traders widely believe falling stock should see declining volume. Traded activity experienced a fall of -0.97 million shares and in total 11.86 M shares exchanged hands for about $50.12 million.

Inside JCP’s Recent Trend

  1. C. Penney Company, Inc. (JCP) lies in the middle of a very wide and falling trend in the short term and pointed towards extra losses. Short-term traders are anticipated to see a retreat of -17.20% over the course of a quarter and, with 90% chance the price will be floating in the range of $2.62 and $4.16 in this timeframe.
  2. C. Penney Company, Inc. Technical Signals

JCP is a buy based on short-term MA; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On additional rally, the share price will meet long term resistance at around $4.34. On a drop, the stock is likely to find some support over the short run, which begins at $4.15. A buy signal will be generated if it crosses above the long term moving average. Meanwhile, a price down versus the short-term MA will be a fresh sales call. Its pivot point high generated sell signal on Wednesday September 13, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. The downbeat movement of both volume and price during the recent session is interpreted as a good sign because traders usually believe falling stock should see declining volume.

  1. C. Penney Company, Inc. (NYSE:JCP) Support And Resistance Levels

In case of pullback, the next support the price will capture from accumulated volume will not be far away from current price at $3.93 and $3.77. In case of gains, the next resistance from accumulated volume will be at $4.56, $4.64 and $4.71.

It is important to note, however, that the stock needs to make its way through natural risk while testing a key support level. Once this support is broken, another support level will be to be established at a lower level. Turning back to this stock, J. C. Penney Company Inc approaches the first support point just current price at $3.93. In case of a break, the next support we will see from accumulated volume is going to be at $3.77 and $3.60.

  1. C. Penney Company, Inc. (JCP) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.15 between high and low, or 3.63%. The average volatility for the past week stood at 3.73%.

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