Technical Analysis: JCP Approaches Support

Our technical trends section tracks a broad variety of stocks and EFTs representing various sectors, industries, and geographical regions. We utilize Moving Average Channel methods to profit from the intermediate to long-term trend. Both the MAC breakout method and its counterpart the MAC channel (continuation) method can be reviewed in our Education section.

JBLU remains above buy target. The moving average channel up trend continues in a recommendation to buy at the bottom of the moving average channel remains in effect. There is no change in our technical evaluation of the stock recommendations waiting for our entry target to be hit.

JCP is approaching its buy target. The moving average channel remains in an uptrend, and as in the case of JetBlue, you want to buy the bottom of the channel which is the eight period moving average of the low based on his method.

jcp

We saw an attempted rally in JJG over the past few weeks, though this has come to an end. Our MAC signal was valid, though risk management was hit, and accordingly any open trade should now be closed. Wait for a reversing signal or a new buy trigger before reentry.

jjg

RAX and RSX downtrends continue with no change in recommendation. We want to be long the stock next buy trigger, and will recommend positions accordingly. At this time continue to stand aside.

WFM is now inside the MAC. No change in recommendation, but watch for possible moves above MAC in coming weeks.

wfm
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