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Stock Investors Sell Off Shares of JC Penney, Down 1.5%

Published on Wed, 06/12/2013 - 10:58
By Adrienne Chilton

One of today's notable stocks in decline is JC Penney (NYSE:JCP), down 1.5% to $17.85. The Dow Jones Industrial Average is now trading fractionally higher to 15,134 and the S&P is trading fractionally higher to 1,628.

In the past 52 weeks, JC Penney share prices have been bracketed by a low of $13.55 and a high of $32.55 and are now at $17.85, 32% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.3%.

Based on a current price of $17.85, JC Penney is currently 7.0% above its average consensus analyst price target of $16.60. The stock should find resistance at its 200-day moving average (MA) of $19.95, as well as support at its 50-day MA of $16.86.

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.

By Adrienne Chilton
achilton@fnno.com

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