Monday, April 11, 2016

CTRP:, $46 Breakout Should be Confirmed with Wm%R and Stochastic Upturn

RXDX: Ignyta Ascending Triangle Breakout, Projects to $11

J C Penney Company Inc (NYSE: JCP)

J. C. Penney Company, Inc., through its subsidiary, J. C. Penney Corporation, Inc., sells merchandise through department stores in the United States. The company sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings, as well as provides various services, including styling salon, optical, portrait photography, and custom decorating. As of January 30, 2016, it operated approximately 1,021 department stores in 49 states and Puerto Rico.
Take a look at the 1-year chart of JC (NYSE: JCP) below with added notations:
1-year chart of JC (NYSE: JCP)
After hitting new 52-week lows in January, JCP rallied strongly towards new highs, and in February the stock actually broke through the $10, 52-week high resistance (green). JCP gained 20 percent from that breakout point, and now the stock is doubling back to retest the old $10 resistance as a new support.

The Tale of the Tape: JCP broke its 52-week resistance at $10 earlier this year. The possible long position on the stock would be on a pullback down to that level with a stop placed under it. A break back below $10 could negate the forecast for a continued move higher.

Demandware Inc (NYSE: DWRE)

Demandware, Inc. provides enterprise-class cloud commerce solutions in the United States, Germany, the United Kingdom, and internationally. It offers Demandware Commerce Cloud, a digital commerce platform that enables customers to establish and execute complex digital commerce strategies, as well as facilitates customers in global expansion, omni-channel processes, multi-brand and multi-site rollouts, predictive merchandising, and in-store operations.
Take a look at the 1-year chart of Demandware (NYSE: DWRE) below with the added notations:
1-year chart of Demandware (NYSE: DWRE)
DWRE has been trending lower since last July, but over the most recent 3 months the $40 price level (blue) has become very important to the stock. Not only was $40 a key support level back in January, but that level was also resistance multiple times in March. Now that DWRE has broken above $40 that should open the door to higher prices for the stock.

The Tale of the Tape: DWRE has broken through resistance at $40. A trader could enter a long position on a pullback down to $40 with a stop placed under the level. However, if traders are bearish on the stock, a short trade could be made if the stock breaks back below $40.

Short Tesla (TSLA-NASD: $250) Target Price = $12

US Weekly Economic Calendar

time (et) report period ACTUAL forecast previous
  None scheduled        
6 am NFIB small business index March   -- 92.9
8:30 am Import price index March   -- -0.3%
2 pm Federal budget March   -- -$53 bln
8:30 am Retail sales March   0.1% -0.1%
8:30 am Retail sales ex-autos March   0.4% -0.1%
8:30 am Producer price index March   0.3% -0.2%
10 am Business inventories Feb.   -0.1% 0.1%
2 pm Beige Book        
8:30 am Weekly jobless claims 4/9
269,000 267,000 
8:30 am Consumer price index March   0.2% -0.2%
8:30 am Core CPI March   0.2% 0.3%
8:30 am Empire state index April   2.5 0.6
9:15 am Industrial production March   -0.1% -0.5%
9:15 am Capacity utilization March   75.3% 75.4%
10 am Consumer sentiment April   92.0 91.0