$JCP At Double Bottom Support, Earnings Were Not Bad Either

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Last week J C Penney Company Inc (NYSE:JCP) reported earnings that were not horrible, unlike many other retailers. The stock was already trading near 52 week lows and has held up well, also unlike many other retailers. I believe this to be the sleeper pick of all the retail sector. It is currently trading just above a major double bottom support level at $6.00. The reason it has not rallied sharply on earnings is because investors fear a tariff on imports imposed by President Donald Trump. Based on the earnings and stock chart support level , I would nibble here and am nibbling here.

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