FOX Business: JC Penney Bullish Setup Round 2

Back in March we noticed the high short interest in shares of JC Penney as the stock broke out above a key downtrend line and former support (See here). So Fox Business asked me to come on and talk about why I expected a 30% rally.

Since then, we've seen that rally followed by some consolidation near the highs. Last week I put out a note about why we could see another 30% rally from here. The short ratio has actually increased even through the short interest has diminished. An interesting phenomenon, to say the least. So Fox asked me to come back on to do a sequel for the hit from 4 months ago.

Here's the video in full:

Watch the latest video at video.foxbusiness.com
 

Source:

JC Penney Shares up 30%: Supply and Demand Dynamics (Fox Business)

Tags: $JCP