JHG.AX finds buyers at key support level


Janus Henderson Chess Depositary Interests (JHG.AX) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
JHG.AX finds buyers at key support level
JHG.AX breaks below previous session low
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

JHG.AX ended the week -0.61% lower at 42.07 after losing A$0.28 (-0.66%) today on low volume. Closing below Thursday's low at 42.18, the share confirms its breakout through the previous session's low having traded A$0.36 below it intraday.

Daily chart for JHG.AX
Volatility

Friday's trading range was A$0.47 (1.11%), that's slightly below last trading month's daily average range of A$0.54. 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 41.82 during the day, the market bounced off the key support level at 41.82. The failure to close below the support could increase that levels importance as support going forward.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 42.55 where further buy stops could get triggered. Selling might speed up should prices move below the close-by swing low at 41.82 where further sell 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
Close near low of period TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
Black Candle TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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