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 :
I will be taking partial profits at the multi year high, at 12.70$, if the histogram continues to rise. If it stops rising, I want to exit completely and be satisfied with a small profit as a bearish divergence will be confirmed on the daily, and it will be a matter of a few more days for the weekly divergence to be confirmed too. If momentum continues rising close to it's previous peak on the MACD, I will take another chunk off the table at the first downtick of the histogram. The remaining part of the position will be kept until a further bearish signal emerges.
After the corrective double bottom, price and volume surged. A small correction was due, and today the correction seems to have ended. Look at the FI, and the bullish divergence there. The MACD histogram is still falling, but if tommorow's reaction will be postive, a rise is iminent. Price is currently standing at value, after rejecting the support area with above average volume.
In order for this trade to work as planed, in a couple of weeks JNS should stand near 15. The weekly is shouting caution, a bearish divergence is possible, but until the histogram stops rising, it is just a warning sign and nothing more. Weekly here :
I will be taking partial profits at the multi year high, at 12.70$, 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.