JC Penney is a great speculative stock with fundamental reasons to support that a turnaround is in progress. It seems to have bottomed in 2014 and is slowly gaining momentum and swings wildly with optimistic and pessimistic pushes.
Overall, I like the stock but don't want to see it get out of hand in either direction. It's path of least resistance right now seems downward. I wouldn't mind picking up a few shares under $9 and add under $8.
Red is resistance
Green is potential support
Overall, I like the stock but don't want to see it get out of hand in either direction. It's path of least resistance right now seems downward. I wouldn't mind picking up a few shares under $9 and add under $8.
Red is resistance
Green is potential support