Shares of JCP are back to their lows, setting a marginally lower low than before. Even so, I think this is a zone to buy against.
The blue line represents its previous low. The lines of various shades of pink are extensions of previous swings, all of which suggest downside targets that are similar, thereby strengthening the area/levels. The green shaded box area is the "buy zone" (from $2.30-2.44).
I'm a buyer for a speculative position.
(Please note that this is a weekly chart, so this may take time to pan out.)
The blue line represents its previous low. The lines of various shades of pink are extensions of previous swings, all of which suggest downside targets that are similar, thereby strengthening the area/levels. The green shaded box area is the "buy zone" (from $2.30-2.44).
I'm a buyer for a speculative position.
(Please note that this is a weekly chart, so this may take time to pan out.)