Market Overview

Trading Alert: J.C. Penney Stock Starts To Trend Higher


J.C. Penney Company, Inc. (NYSE: JCP) has started to trend higher in the trading session. This could be setting up for a pop.  This stock has been hammered in the last week over fears the company has lost funding and calls from hedge fund investor Ackman for a replacement of the current CEO. These recent issues, all unsubstantiated could spell a low before a major short squeeze. Short term resistance is $13.65, $14.10 and $14.60. The chart tells of a solid chance of a pop.

Gareth Soloway

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Markets Trading Ideas


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