[JCP] update: watch for double bottom (or not)

In this post I modeled that the shares would likely pull back to mid channel before starting another wave up.  Fast forward to today, the model looks just like the current graph of JCP Weekly candles.  If this level holds then it would be a  double bottom for the shares which means that the next move up would likely be up to round about $12-$14 (100% gain from current levels).   A break above $7.40, especially if it can occur with gusto or with some kind of news, would be a significant buy signal.  It the double bottom cannot hold, I would wait for a better entry point.