J.C. Penney Booked a New High

Published on Friday, 27 January 2012 11:34 Written by TradersHuddle Staff

New York, January 27th (TradersHuddle.com) - Shares of J.C. Penney Company, Inc. (NYSE:JCP) booked a new 52 week high today by trading above $41.24, traders are definitely monitoring J.C. Penney's price action to see if this move attracts further buying into the stock.

J.C. Penney Company, Inc. (NYSE:JCP) operates department stores in the United States and Puerto Rico. The Company provides merchandise and services to consumers through department stores, catalog departments, and the Internet. JCPenney markets primarily family apparel, jewelry, shoes, accessories, and home furnishings.

J.C. Penney is currently trading -0.93% versus its previous trading session close, and it has calculated support and resistance at $33.41 and $35.65 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading flat by 0% from its previous trading close, which means that J.C. Penney stock is underperforming the overall market.