JCP $6 target.
JCP has done fake double bottoms before on 2013-10 and 2014-02
A new such Fake bottom is developing. Also is the start of an Elliott Wave impulse cycle. Note however how the Volume profile is heavily titled to downside and how volume practically vanishes on top.
Fundamentally, they are trying a few new things and throwing a lot of things on the wall to see what sticks. But that just smells of desperation. This is going to be another AMZN fatality. I am accumulating Shorts / Puts for a $6.1 target.
A new such Fake bottom is developing. Also is the start of an Elliott Wave impulse cycle. Note however how the Volume profile is heavily titled to downside and how volume practically vanishes on top.
Fundamentally, they are trying a few new things and throwing a lot of things on the wall to see what sticks. But that just smells of desperation. This is going to be another AMZN fatality. I am accumulating Shorts / Puts for a $6.1 target.
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