DK1
Long

Long Position, need MFI to go into oversold territory

BATS:JCP   PENNEY J C INC
69 0 0
Looking at the monthly chart we can see the rise and fall of JCP             3 times over the past 2 and a half decades.

Indicators:
- The RSI has hit oversold territory for the 3rd time. In the past this has led to 100 - 400% gains within a few, 5-8, years.
- The MFI indicator has also hit oversold territory before the stock price rebound, but this time around MFI has yet to reach oversold.
- The short interest on JCP             is HUGE!!! Approximately 57% of the float

These three indicators lead me to believe that a large rebound will be present in the next couple of years, say 5 - 10 years. Possibly on the shorter range considering consumer spending/confidence has been on the rise.

Current Price: $6.52
Prediction:
Profit Target: $40 (+400% gain)
Stop Loss: $5 ( 25% loss)
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