JNS- JANUS CAPITAL GROUP ON A KEY LEVEL FROM 2010During the last period JNS gained about 43%, going to touch the 16$ level.It's probably influenced by the news about Bill Gross joining Janus Capital Group. It's a key level because on 2010 on the same resistance occurred a triple top and the beginning of a downtrend phase that reached 5,70$ (2011). After that low we can observe a new uptrend phase contained in a rising channel that lasts from 2012. For the swings traders there is the possibility to buy on the lower channel and sell on the higher side. For a long term investor there is the possibility to look for a breakout on the 16$ resistance with a good chance of exponential growth that in the past reached the 36$ level (2008). If the breakout fails i would expect a double or triple top as a trend inversion signal.
Group
Looking for a Dixie Group BottomThis is a textbook Elliot wave impulse move to the downside with clear alternation.
We are clearly on a wave 5, however, I'm not quite sure if we have completed the wave yet. It appears to be close to popping out of the channel, which suggests sellers are drying, but usually wave 5 is equal to the length of wave 1, so I'm waiting to see what happens after earnings.
If we do drop down to the buy box, it will be a solid buy to ride up to the 11 mark for a 38% retrace (then going down some more) We could have a good ER and we will see a pop, I might jump in depending on how much it pops. Lets see how this works out. I have no idea what this company does, nor do I care. I'm just reading a chart.
Good luck
