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Upgrade Alert for JC Penney (JCP)May 20, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- JC Penney (NYSE:JCP) was upgraded from Hold to Buy at Maxim today. The stock closed yesterday at $18.01 on volume of 25.3 million shares, above average daily volume of 23.0 million. JC Penney (NYSE:JCP) is currently priced 10.4% above its average consensus analyst price target of $16.60. The stock should find resistance at its 200-day moving average (MA) of $20.28, as well as support at its 50-day MA of $15.91. Over the past year, JC Penney has traded in a range of $13.55 to $32.55 and is now at $18.52, 37% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.8%. J.C. Penney Company, Inc., through a subsidiary, 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. SmarTrend recommended that subscribers consider buying shares of JC Penney on April 29th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $17.35. Since that recommendation, shares of JC Penney have risen 3.8%. We continue to monitor JCP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |