JCP: Some bottom possibly reached

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The trend line drawn by Cyceon on February 23, 2017 proved very strong with the JC Penney (JCP)’s stock dropping sharply from around USD 7.15 to less than USD 6.00 in just 8 market sessions that is a whopping minus 16%. Considering many bad news have been delivered for some time about the US retail sector, now in crisis mode, stocks like JCP’s could have reached a bottom. Next available information in the coming months about how the retail sector behaves could prove less serious that it was in previous months, thus perhaps creating some room on the upside.

JCP (c)