Bearish Average Crossover for J. C. Penney Company (JCP)
Published on 07/29/2010 by Leo Goldman
NEW YORK (Market Intellisearch) -- J. C. Penney Company shares have crossed below the 50-day moving average on lighter than usual volume.
The crossing of the stock price below the moving average may signal the beginning of a bearish trend.
Today, shares of JCP declined $0.27(-1.08%) to $24.65. JCP traded between the range of $24.25 - $25.47.
Today's trading activities for J. C. Penney Company stock may be a sign that the shares will continue to head lower in
the foreseeable future assuming the moving average has downward slope.
Investor expectations change with time, and they often do so abruptly. The development of resistance levels is
probably the most noticeable and reoccurring event on price charts. The breaking through resistance levels can be
triggered by fundamental changes that are above or below investor's expectations. Based on the pivot points, the current support
and resistance levels for J. C. Penney Company are 24.11 and 25.33 respectively. If the support point price is broken in an downward movement, then the bearish trend is likely to continue and vice versa.
Disclaimer: The material presented in this commentary is provided for informational purposes only and is based upon information that is
considered to be reliable. Neither Market Intellisearch nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as
such. Neither Market Intellisearch nor its affiliates are responsible for any errors or for results obtained from the use of this information.
This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial
instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without
notice. Before acting on any information contained on the website, you should consider whether it is suitable for your particular circumstances and strongly
consider seeking advice from your own financial or investment adviser.
