A Word of Caution for JC Pennney Here ($JCP $XRT)

August 10, 2012

The daily chart looks promising with a clear objective offered by haDelta but also with a well-defined support (lowest pane).

With a word of caution

 

A Word of Caution for JC Pennney Here ($JCP $XRT)  8/9/2012

 

The weekly chart shows a clear consolidation with a negative (and unconfirmed) bias due to the haDelta crossing at zero. The current consolidation is highlighted by the series of doji-like candles (middle pane).
Conclusion: Forget about $JCP since its charts send contradicting heikin-ashi signals.

 

A Word of Caution for JC Pennney Here ($JCP $XRT)  8/9/2012

 

 

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