JCPenney $JCP is probably not going to make a strong recovery, although it might float around above $2.00.JCP Weekly Chart(click to enlarge)Just a bad market to be in:- We all probably know by now that Amazon has been taking over the retail clothing industry. - JCP does not have much upside in the foreseeable future.Correction vs. Resistance:- Price rebounded as JCP held above $2.00 a share. However, the recovery will be meeting a brick wall around $5-$6 area, which is a previous support area. - This area will likely be resistance. - I think the maximum bullish outlook we should have, and I don't know why we would consider this, is the $7.00 mark. - The thing is, if the overall market sentiment continues to be bearish in March, JCP might have already started its bearish swing back towards $2.00.