Sorry for the mistake, check the chart in Day grain, mistakenly forgot to revert back from Weekly
JCP has been licking the recent ceiling for quite some time, and ER is 20 days ahead. So far it looks like a major bearish pennant as it s formed on a/after a down trend. Yet still it is kind of out the major down trend. I guess either positive news, and most probably earnings decide it for this retailer. Would not buy it now, but would hold if it is there. On bad ER would sell at all cost.
JCP has been licking the recent ceiling for quite some time, and ER is 20 days ahead. So far it looks like a major bearish pennant as it s formed on a/after a down trend. Yet still it is kind of out the major down trend. I guess either positive news, and most probably earnings decide it for this retailer. Would not buy it now, but would hold if it is there. On bad ER would sell at all cost.