Monday, April 11, 2016
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:
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.
Take a look at the 1-year chart of JC (NYSE: JCP) below with added notations:
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:
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.
Take a look at the 1-year chart of Demandware (NYSE: DWRE) below with the added notations:
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.
US Weekly Economic Calendar
| time (et) | report | period | ACTUAL | forecast | previous |
|---|---|---|---|---|---|
| MONDAY, APRIL 11 | |||||
| None scheduled | |||||
| TUESDAY, APRIL 12 | |||||
| 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 | |
| WEDNESDAY, APRIL 13 | |||||
| 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 | ||||
| THURSDAY, APRIL 14 | |||||
| 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% | |
| FRIDAY, APRIL 15 | |||||
| 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 | |
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