JHG.AX breaks below 50-day moving average


Janus Henderson Chess Depositary Interests (JHG.AX) Technical Analysis Report for Jun 14, 2018 [1 min read]
Highlights
JHG.AX breaks below 50-day moving average
JHG.AX closes above its opening price after recovering from early selling pressure
JHG.AX finds buyers at key support level
JHG.AX fails to close above 50-day moving average
JHG.AX ends the day indecisive
TQ Sentiment
Technical Forecast:
Overview

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 chart for JHG.AX
Volatility

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.

Support/Resistance

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.

Trend

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.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 42.53 where further buy stops could get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Janus Henderson Chess Depositary Interests
ConditionForecastDirectionWinAvgWorstBestEvents
Closed below last periods low TQ Pro Members Only
Black Candle TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bearish Short Candle TQ Pro Members Only
Decisive Down Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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