Even after a negative reaction to an earnings report, one of the things that traders look out for is if levels of support were broken following the earnings. If support levels fail, then this can be a very bearish signal but if they hold then it can create a little bit of a puzzle. The later was the case for J.C. Penney Company today as long-term support of around $6.00 held even after an earnings report was generally regarded by the market as negative. If there are any significant technical developments on this stock we will update you!
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2 Replies to “J.C. Penney Company Support Holds After Earnings”
Thanks for posting the videos on JCP, FL, and AAPL. Appreciate the great insight!
Matt … thanks again .. really love hearing your (&Tim) thinking/approach to technical analysis
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