Friday, May 24, 2013

JCPenney Inc.

JCP tried to push higher today but failed to breakout suggesting that there is a need for more work. The Intermediate term is bullish, no damage done. If you already have a position, hold it for higher. If you want to enter the stock, wait for a breakout (stop $18.3) 4hrly/ daily close or wait for 18.5$ (stop 17.3$) . No shorting this ticker, that's what I see! 

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