The Measured Move in JC Penney

I received a question this week regarding the “measured move” chart pattern and so I thought I would keep an eye out for a good example. I previously did a post on a measured move in $CBS here.

It did not take me long to see one this morning during my chart reviews. I bring you the Weekly chart in $JCP showing 2 black parallel lines of equal length:

If history does rhyme, you should see a nice $20 bounce to $45 a share.

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