As in my past analysis for JCP, I showed that the key for this stock to go higher is the supporting performance and news. This stock has a bright future, volatility was very high for this stock in both directions (up & down) which means there were some smart money out there accumulating in the stock (it is obvious in the positive divergence with the RSI).
What's NEXT?!?
The stock has to trade above $7.95 for at least 3 days to be able to continue for the next levels which are $8.56 and then $9.17.
the Failure to trade above $7.95 for 3 days might be an indication of weakness and that the smart money which accumulated at lower levels are selling after the positive news announced.
Thank you,
Have a good trade.
What's NEXT?!?
The stock has to trade above $7.95 for at least 3 days to be able to continue for the next levels which are $8.56 and then $9.17.
the Failure to trade above $7.95 for 3 days might be an indication of weakness and that the smart money which accumulated at lower levels are selling after the positive news announced.
Thank you,
Have a good trade.