AI
Wednesday, September 05, 2018 3:03:33 PM
Major Break To Watch For On J C Penney $JCP
J C Penney (JCP) is likely to name a new CEO soon. Should the name be big and investors gain confidence, look for the stock to surge back to $2.40. That would be an almost 50% move in the stock. To add fuel to the fire for a surge higher, I am watching the stock chart. There is a classic bullish pattern starting to form. Should J C Penney move above $1.80, the breakout will begin. See the chart below for a visual. Please note, any break of the all time low of $1.60 would trigger the stop.
Gareth Soloway
InTheMoneyStocks
J C Penney (JCP) is likely to name a new CEO soon. Should the name be big and investors gain confidence, look for the stock to surge back to $2.40. That would be an almost 50% move in the stock. To add fuel to the fire for a surge higher, I am watching the stock chart. There is a classic bullish pattern starting to form. Should J C Penney move above $1.80, the breakout will begin. See the chart below for a visual. Please note, any break of the all time low of $1.60 would trigger the stop.
Gareth Soloway
InTheMoneyStocks
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