JCP update 4/28/2015: minor 1 and 2 of intermediate iii of major 3 completed!?

JCP sure put in a nice big candle today, after finding support at the intersection of the the lower BB, the 50d and 200d SMA, and at the 61.8% retrace level of the previous (green minor 1) wave up off the (red) intermediate ii low. Please note that minor 1 hit around the 61.8% extension of intermediate i, which is common for the next 1st wave up to do. And so is of course a 61.8% retrace of that wave 1 for the subsequent wave 2. Note that the daily Bollinger Bands are starting to tighten and that a bigger move is coming soon. Likely minor 3 of intermediate iii of Major 3.

JCP update 4282015

The daily chart shows that several TIs after today have started to point back up: the RSI5, which came out of oversold; the A.I. is almost at a solid buy, as is the FSTO. Yes, IMHO things are starting to look good again for the JCP bulls. Minor 3 should ideally target $11.50-$12.00ish, which is around the 138.2% extension of intermediate i; often a typical 3rd of a 3rd wave target.




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