vlad.adrian
Long

Janus Capital - Long on retracement

NYSE:JNS   JANUS CAP GROUP INC
83 0 1
Janus Capital goes up and down with the market, but usually by different percentages. Today was a crazy day, and tommorow will probably follow, as Yellen testifies again. The reaction on the main indices was positive, and depending on tommorow, I think a rally is comming, this meaning Janus is going to rally too.

After the corrective double bottom , price and volume surged. A small correction was due, and today the correction seems to have ended. Look at the FI             , and the bullish divergence there. The MACD histogram is still falling, but if tommorow's reaction will be postive, a rise is iminent. Price is currently standing at value, after rejecting the support area with above average volume .

In order for this trade to work as planed, in a couple of weeks JNS             should stand near 15. The weekly is shouting caution, a bearish divergence is possible, but until the histogram stops rising, it is just a warning sign and nothing more. Weekly here :
snapshot


I will be taking partial profits at the multi year high, at 12.70$, if the histogram continues to rise. If it stops rising, I want to exit completely and be satisfied with a small profit as a bearish divergence will be confirmed on the daily, and it will be a matter of a few more days for the weekly divergence to be confirmed too. If momentum continues rising close to it's previous peak on the MACD , I will take another chunk off the table at the first downtick of the histogram. The remaining part of the position will be kept until a further bearish signal emerges.
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