JHG.AX breaks below 50-day moving average
Janus Henderson Chess Depositary Interests (JHG.AX) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
JHG.AX ended Thursday at 42.17 losing A$0.26 (-0.61%). Trading up to A$0.26 lower after the open, Janus Henderson managed to reverse during the session as bulls took control ending the day above its opening price. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (JHG.AX as at Jun 14, 2018):
Thursday's trading range was A$0.55 (1.31%), that's slightly above last trading month's daily average range of A$0.53. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being exactly the same as average.
After trading as low as 41.81 during the day, the market bounced off the key support level at 41.85. The failure to close below the support could increase that levels importance as support going forward. Prices are trading close to the key resistance level at 42.53. After spiking up to 42.36 during the day, the stock found resistance at the 50-day moving average at 42.21.
Although still in a long-term downtrend, the short and medium-term trends both turned bullish already. The share broke below the 50-day moving average at 42.21 today for the first time since May 25th.
Buying might accelerate should prices move above the nearby swing high at 42.53 where further buy stops could get activated.