andrew.berg
Long

JCP waking up, laggard play

NYSE:JCP   J.C. PENNEY COMPANY INC HOLDING COMPANY
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.
I too got triggered yesterday, hoping to see it continue strong
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I have to add- I do miss the thumbs down button
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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 sublimares2
2nd target could be $12.10-.50 - previous break out area should act like resistance
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