J.C. Penney for Your Thoughts

J.C. Penney (JCP) is starting to appear on many traders' screens. I'm not going to pretend that I saw it first. I understand what folks are looking at here, as price today broke higher out of a six-week price channel, along with a breakout in the relative strength index (RSI) and a new high in the commodities channel index (CCI). While the money flow index (MFI) may seem a bit lacking, we do have a holiday week paired with that huge volume seen in May. 

J.C. Penney seems destined to at least test $10, but the easiest money, until $10 is broken convincingly to the upside, has been made. Those who bought the bottom of the channel around $8.50 are already up quite nicely....252 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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