$JCP At Double Bottom Support, Earnings Were Not Bad Either

#1
Last week J C Penney Company Inc (NYSE:JCP) reported earnings that were not horrible, unlike many other retailers. The stock was already trading near 52 week lows and has held up well, also unlike many other retailers. I believe this to be the sleeper pick of all the retail sector. It is currently trading just above a major double bottom support level at $6.00. The reason it has not rallied sharply on earnings is because investors fear a tariff on imports imposed by President Donald Trump. Based on the earnings and stock chart support level, I would nibble here and am nibbling here.


Stock chart and earnings signal strong buy on J C Penney
 

Attachments

Similar threads

Broker Special Offers

Intraday Higher Leverage

Save up to 90% in brokerage and get higher leverage for intraday trades.

Name:Phone:
Email:City:
State:
Are you a day trader?