JCP facing trendline resistance
JCP is a turnaround story that intrigues me. I believe that a good marketing man can make a huge difference with a retailer, and Ron Johnson has the credentials to do so. I already like the tone of their recent advertising efforts. So, at heart, I like the story and am very interested. I bought over the summer near resistance, but sold it awhile ago. This article prompted me to check whether I should get back into it. The answer is about a clear as it gets. Right now – no, the stock is facing trendline resistance that dates back 5 years. But if JCP can advance another 3-5%, then heck yes, that would qualify as a “breakout”, imho.