Market Blog Technical Analysis

J C Penney Company looks Poised for a Bounce

The JC Penney stock (JCP) ended Friday's session  with a bullish hammer candlestick accompanied by a nice pickup in volume, which could mean a reversal indication. I think we have reached the bottom in short-term. Price hit a high of $3.62, which is resistance for Monday’s continuation move. I will add few more shares once it breaks through this high and expect to see heavy volume push the stock higher. Despite weak signal from