andrew.berg
Long

JCP waking up, laggard play

NYSE:JCP   PENNEY J C INC
This retailer had couple dissapointing earnings before, but on the last it beat above consensus with EPS             surprice 0.11 and gapped up with pivot support @ $7.00 that was confirmed and retested in the mid of April. And from the beginnig of May it is building nice upper-level base in front of resistance $9.30. Yeasterday, it broke up tight consolidation which triggered my entry. Will be great to see continuation through resistance then we have 200 MA at $10 which could be our first target.
Stop below moving averages $8.20ish

Stock was underperforming vs overall market because of weak fundamentals. We have earnings on 15 of May.
sublimares2
2 years ago
So, we are talking about a $9.20 share that has the first target at $10- second target being around ---? The chart is posted just in time for a good, profitable trade. Not to mention the upcoming earrings in 2 days.
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andrew.berg PRO sublimares2
2 years ago
2nd target could be $12.10-.50 - previous break out area should act like resistance
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sublimares2
2 years ago
I have to add- I do miss the thumbs down button
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Vincar22
2 years ago
I too got triggered yesterday, hoping to see it continue strong
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