JHG.AX closes within prior day's range
Janus Henderson Chess Depositary Interests (JHG.AX) Technical Analysis Report for Oct 12, 2018 | by Techniquant Editorial Team
JHG.AX ended the week -7.81% lower at 33.99 after gaining $0.19 (0.56%) today, slightly outperforming the market (ASX 200, 0.2%). The bulls were in full control today, moving the market higher throughout the whole session. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (JHG.AX as at Oct 12, 2018):
Friday's trading range was $0.53 (1.58%), that's above last trading month's daily average range of $0.44. Weekly volatility is also higher, being way above the markets average with the monthly volatility being exactly the same as average.
Three candlestick patterns are matching today's price action, the Bullish Belt-hold and the White Candle which are both known as bullish patterns and one bearish pattern, the Thrusting Pattern.
With another close below the lower Bollinger Band, prices are confirming their strong downward momentum in the short-term. A rally back into the Bollinger Band on the next trading day though might signal a potential change in momentum that could lead to a correction back up towards the center of the Bollinger Bands at 37.09.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Among the six market conditions that our engine recognized today, the statistics for the OHLC Patterns based condition "Bullish Belt-hold" stands out. It's common interpretation of being bullish has so far been confirmed for Janus Henderson in the past. Out of 1 times during the last ten years, JHG.AX closed higher 100.00% of the time on the next trading day.