sublimares2

JCP- possible pattern: bottom megaphone

BATS:JCP   PENNEY J C INC
319 13 0
It can be many things but so far is looking like a bottom megaphone- and the last point under construction. That being said- still short until around $11.70. It could be the last short move and reverse.

Pattern confirmation: on the third upswing price breaks above the prior high level and fails to fall below the level again.
sublimares2
3 years ago
If price breaks support (right now @support) - no support until 9.60
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spola2
3 years ago
should one buy now or wait?
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sublimares2 spola2
3 years ago
Why would you buy now? It just went down 15%.
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sublimares2
3 years ago
Megaphone pattern- sayonara
What a day for JCP! The good news is one can buy JCP cheaper:)
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QuantitativeExhaustion PRO sublimares2
3 years ago
Pays to sit tight. Looks like we shook out early bulls. Need big money to chase these bears away for good.
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sublimares2 QuantitativeExhaustion
3 years ago
We are approaching the moment. I would guess that a bottom will be between 6 and 8. Major support @8.50- lets see what happens. Interesting the volume spike.
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QuantitativeExhaustion PRO sublimares2
3 years ago
Thinking we stick... I don't see a big market move until Nov. 10
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sublimares2 QuantitativeExhaustion
3 years ago
Any astrological activity that time? I remember Mercury goes retro next month
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QuantitativeExhaustion PRO sublimares2
3 years ago
Elements Chart with Geocentric chart... Oct. 17/18th (Aries Lunar Eclipse) bad through Oct. 21/22 (Mercury Retrograde into Sun Sign Scorpio -- same move as Oct. 19th , 1987 Black Monday Crash) Mercury, Venus and Saturn are also in Scorpio). Matter of fact Mars is configured to all three planets by superior* sign-based square from Leo throughout first half october. This situation is alleviated until Mars moves into Virgo around Oct. 15th. This is hampered as soon as Mercury goes in retrograde Oct. 21. .. I'll post more soon in a published astro chart with SPY
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spola2
3 years ago
bought yesterday at 11.9 and exited today at 10.7. thought it bottomed out yesterday. having serious consideration whether to enter this or leave it for good?
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sublimares2 spola2
3 years ago
There is another option: what about entering this later? Patience with this one if you want bottom fishing:) It just made a gap down- you can buy it cheaper and all is good:) Patience and keep it on watch list
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spola2
3 years ago
sublimares2 how did you come up with the price target of 6? pls share a chart if you can
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sublimares2 spola2
3 years ago
I just posted above- click on the link- no idea why it did not post it as picture....technical measurement of channel gives 6. However, major support @8.50
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