Stocks Outlook Video $JCP and $WMT
Stocks Outlook On JC Penny($JCP),
We find price pushing down and re-testing the last demand level in the past 5 years as it looks like price wants to go down to $4. The stocks outlook Daily Demand level from $5.48 down to $4.90 has been tested several times over the past few years and it looks like it could break. Now I think it may take all week or longer to break this zone. But I can see it happening. From a Technical aspect alone it looks like it’s ready to pop. This week I’m looking for price to push down to $4.90 and then probably reform this demand zone into fresh supply as supply/demand shift over time. Bottom line this stock is in a downtrend. Is this the bottom??? No-one knows for sure. If you are going to try the counter trend long here make sure that you see some good buying pressure before jumping in.
Stocks Outlook On Wal-Mart($WMT),
Things are looking much different than on JC Penney. We are see price get ready to retest 2 year high at supply of $77.33 up to $79.94. Right now price is sitting at $76 and I believe that price could easy get into $77 here in the next couple weeks. This week however I think we are going to see a retest of hourly at $75.88 down to $75.57 before we see new highs. Regardless I’m seeing the wind blow upwards in Wal-Mart’s near future. Bottom Line, from a purely technical look, be on the lookout for good buying zone and run with the overall trend until we see price hit 77.33. I really like the whole number of $78 sitting inside the daily supply zone so also watch that level.
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