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Long

$JCP Bullish Descending Wedge (daily chart)

BATS:JCP   J.C. PENNEY COMPANY, INC. HOLDING COMPANY
211 1 2
$JCP looks like a good buy here at these levels.
1. Price and Valuation (historical long-term support levels all the way back from the 80's)
2. Large short interest (looking for a nice short squeeze soon)
3. Overall people are freaking out / emotional.(people actually think JCP             could go bankrupt in 3 months)

So I am going to take advantage here and buy.


Waiting for a supportive candle right now... We shale see
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