JCPenney (JCP) Look out for Falling Stock Price
Looking at the JCP chart above, its price has fallen through the bottom of the Andrew’s Pitchfork and is now sitting right on the sell trigger line. If the price falls much below Friday’s close of $36.24, then the JCP stock price is going to fall faster than the price of ice melt in Wal-Mart after a mild Missouri winter.
Disclaimer: I’m not a stock broker, so unlike a certain broker of days gone by, you don’t have to listen to me. Do your own research. Do your own thinking. Don’t be a lemming. The above is provided as information and entertainment only. Capiche?!?
JCP has managed to bounce off the sell trigger line for now. That being said, it still isn’t a pretty picture as it had already fallen through the bottom of the Andrew’s Pitchfork above and still sits precariously close to the sell trigger line. My gut tells me that JCP will soon break that line and continue downward. But hey, maybe it’s hunger pangs since I haven’t had lunch yet.
Update #2: 3-19-12
Looks like JCP is slipping a bit.
It’s not easy trying to be like Apple I suppose, what with all those shiny new iPads that CNBC has been slobbering over all day (what a bunch of shills). Of course that won’t keep me from buying my wife one.
But, just because JCP has a former Apple executive in charge doesn’t mean they can convert the JCPenney at our local mall into an Apple Store. I don’t think they can. I rarely go to the old line retailers like JCPenney or Sears. There is just something very old-fashioned and unappealing about them to me. I’ll let the over 50 crowd have them. I much prefer a hit and run trip to Wal-Mart, Target, or better yet, shopping online at Amazon than going down to boring old JCPenney. It looks like I am not alone in that sentiment.