J.C. Penney gaps up after earnings, levels to watch The company reported a smaller than expected loss for its Q4 last night and provided guidance that suggested the second half of the year would see gross margin improvement. At the current price of $7.28, the shares are up over 22%. The move has also taken the shares above the 50-day moving average at $6.98, which is now support. If this breakout above the 50-day holds it would be intermediate-term price bullish. Resistance is at $7.71.