Daily Stock Setups

J.C. Penney (JCP) Downgrade Alert, Watch for 4.2% Technical Downtrend Continuation

Posted on: Mon, 16 Nov 2009 09:50:00 EST

Symbols: JCP

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Nov 16, 2009 (SmarTrend(R) Spotlight via COMTEX) --
JCP | Quote | Chart | News | PowerRating -- J.C. Penney (NYSE:JCP) downgraded to Sell from Neutral, $32 target, at Goldman. The stock closed Friday at $31.21 on volume of 11,858,718 shares, above average daily volume of 5,132,925.

JC Penney is currently below its 50-day moving average of $33.39 and should find support at its 200-day moving average of $27.11.

SmarTrend is bearish on shares of JCP and our subscribers received a Downtrend alert on November 04, 2009 at $32.59, which has returned 4.2% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on J.C. Penney Company Inc (JCP) JCP. J.C. Penney Company Inc (JCP) has Short Term PowerRatings at TradingMarkets. Details on J.C. Penney Company Inc (JCP) Short Term PowerRatings is available at This Link.

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