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6 Stocks to Sell in July

Unload these non-performers and high-risk stocks on the next rally

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Stock to Sell #5 – J.C. Penney Co. (JCP)

J.C. Penney Co. (NYSE:JCP) is the leading mall-based family department store operator in the United States, with over 1,100 retail locations and online shopping. But earnings have been slipping despite management’s introduction of “Fair and Square” pricing where prices have been lowered by about 40% and promotions have been cut. Earnings in FY 2013 (ended Jan. 31) are expected to fall to $1.05 versus $1.26 in FY 2012.

The long-term chart of JCP clearly illustrates a breakdown through a bullish support line at about $26 on very high volume. Investors and speculators alike should sell JCP at the market.

JCP Chart
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Chart Key

Article printed from InvestorPlace Media,

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