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JC Penney's Shares Changing Hands at Higher Prices on 1.4x Above-Average Volume (JCP)

Published on Tue, 01/29/2013 - 14:15
By Mallory Stone

JC Penney shares are trading on heavy volume today, having risen 5.5% to $20.28. Today's volume of 12.5 million shares tops the average 30-day volume of 9.0 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

JC Penney (NYSE:JCP) is currently priced 1.1% above its average consensus analyst price target of $20.05. The stock should hit resistance at its 200-day moving average (MA) of $24.08, as well as support at its 50-day MA of $18.79.

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.

JC Penney share prices have moved between a 52-week high of $43.18 and a 52-week low of $15.69 and are now trading 29% above that low price at $20.28 per share. The 200-day and 50-day moving averages have moved 0.91% lower and 0.18% higher over the past week, respectively.

By Mallory Stone