J.C. PENNEY COMPANY (JCP-NYSE): Technical Viewpoint: From a low of $8.69 on Oct 12, 2000 prices rallied, reaching a high of $12.06 on Nov 21, 2000. A decline saw prices pull back, reaching a low of $8 5/8 on Dec 17, 2000. Another rally saw prices penetrate resistance, closing 1/16/01 at $12.94. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Jan 16, 2001 when the Histogram crossed the "0" line to the upside. Support: Remains at $11 1/2. Resistance: Is at $15.00. Point & Figure: Reversed to the upside on Dec 28, 2000. A P&F upside reversal takes place at $11 1/2. Summary: Technical indicators have turned bullish. BUY! J.C. PENNEY COMPANY (JCP-NYSE) @ $13 1/8 Stop: Use a protective stop of $11 5/8. J.C. PENNEY COMPANY is currently trading @ $12.94 plus $.56 on Jan 16, 2001. Price Objective: $21.00. Risk/Reward: $1 1/2 VS. $7 7/8. Today's Risk Reward Ratio: 5:1