J.C. Penney Lower With High Volume

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J.C. Penney Lower With High Volume

Published on Friday, 27 January 2012 11:38 Written by Christopher Lynn

jcp New York, January 27th (TradersHuddle.com) - Unusual high volume detected on shares of J.C. Penney Company, Inc. (NYSE:JCP), early in the trading session. J.C. Penney is currently trading lower by 0.93%, so definitely the sellers in control, as the stock's volume is already above average.

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 has already traded 1.558 times its 3-month average volume, and has calculated support and resistance at $33.41 and $35.65 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

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.

UPDATE: Deutsche Bank Lowers PT on JC Penney to $26 - Benzinga
2 Stocks to Avoid on the Dead Cat Bounce - TheStreet.com
Are Investors Being Rational About J.C. Penney? - Investopedia
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Bill Ackman at Ira Sohn: Still Bullish on J.C. Penney - Benzinga
J.C. Penney: S&P Intraday Laggard - TheStreet.com
J.C. Penney Down 15% Pre-Market on Weak Earnings, Outlook - Benzinga
UPDATE: Goldman Sachs Lowers J.C. Penney's PT - Benzinga

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