JHG rockets, gaining $0.73 (3.78%) within a single day on high volume

Janus Henderson Group plc (JHG) Technical Analysis Report for Sep 16, 2020 | by Techniquant Editorial Team


JHG soars, gaining $0.73 (3.78%) within a single day on high volume
JHG pushes through key technical resistance level
JHG fails to close above 20-day moving average
JHG closes higher for the 3rd day in a row


Moving higher for the 3rd day in a row, JHG finished Wednesday at 20.03 surging $0.73 (3.78%) on high volume, strongly outperforming the S&P 500 (-0.46%). This is the biggest single-day gain in over a month.

Daily Candlestick Chart (JHG as at Sep 16, 2020):

Daily technical analysis candlestick chart for Janus Henderson Group plc (JHG) as at Sep 16, 2020

Wednesday's trading range has been $1.10 (5.66%), that's far above the last trading month's daily average range of $0.50. Weekly volatility is also higher, being slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for JHG.

One bullish candlestick pattern matches today's price action, the White Candle.

Buyers managed to take out the key technical resistance level at 19.75 (now S1), which is likely to act as support going forward. After spiking up to 20.42 during the day, Janus Henderson found resistance at the 20-day moving average at 20.28. The last time this happened on August 19th, JHG lost -3.21% on the following trading day.

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Among the seven market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "Strong Up Move" stand out. Its common bullish interpretation has been confirmed for Janus Henderson. Out of 62 times, JHG closed higher 54.84% of the time on the next trading day after the market condition occurred.

Market Conditions for JHG as at Sep 16, 2020

Loading Market Conditions for JHG (Janus Henderson Group plc)...
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