14.05.2015 - ​We expect strong price movement of JC Penney shares

The stock price J.C. Penney declined sharply and reached the lower boundary of the rising channel. In the case of the continuation of the downward movement or going beyond the channel and fixing quotations below 8.00, we recommend to open short positions with the potential reduction of the price to a level of 7.20 and 6.50. On the other hand, in case of fixing quotation above the mark 9.20, the growth will continue within the channel to a level of 10.50 and 11.20. In the near future we will likely see continued consolidation of prices and recommend to wait for the signal to open new positions.

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