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Last week my good friend from Italy, Fabrizio, posted a tread suggesting Jones Apparel (JNY) had good fundamental information and suggested we look at the JNS chart.
I analyzed JNS to see if I could help, but before posting, I double checked the stock symbol. (Being dyslexic and prone to error, out of habit I double or triple check everything.) I did not post JNS after confirming it was NOT Jones Apparel (JNY) but rather another stock. Since I was leaving for vacation I could not follow up, until now... and now it seems like that thread has since been removed. I still want to follow up.
My primary purpose in posting this follow up on JNS is to suggest, while the fundamental information my friend provided on Jones Apparel [JNY] can be important, it was his JNS stock symbol and its technical picture that caught my eye even more.
Not to open up a Pandora's Box on what is more important, fundamental or technicals? From my observations over the years, fundamental knowledge can be helpful, but as a technician: tell me when the next earnings report or critical information is being released? That is my fundamental information focus. To avoid surprises this kind of information is extremely important to me.
JNS is Janus Capital Group. If you look at the current daily chart technicals there are reasons to grow excited. The chart work [below] shows JNS daily as a Wave 4 pullback, a 90% 5/35 Elliott Oscillator pullback holding, a lower MOB and a blue W4 Channel support holding, a blue XTL continuing, a PTI greater than 35 suggesting normal profit-taking and increasing odds of at least one more rally, and the minimum 25% retracement holding. Under an aggressive Type 1 Buy premise, this setup is attractive for aggressive traders.
While I know my friend made a mistake with his stock symbol, I also want to encourage him.... keep on with your analysis, as you have always done good things from what I have seen. And, I would never have looked at JNS if you had not mentioned it.
If I can get some time before the July 4th holiday weekend, I will try to also follow up with a Jones Apparel (JNY) chart too, to see if I can help with that one too. http://share.esignal.com/groupconten...er=&groupid=20
Best wishes, your buddy from Ohio, Marc
I analyzed JNS to see if I could help, but before posting, I double checked the stock symbol. (Being dyslexic and prone to error, out of habit I double or triple check everything.) I did not post JNS after confirming it was NOT Jones Apparel (JNY) but rather another stock. Since I was leaving for vacation I could not follow up, until now... and now it seems like that thread has since been removed. I still want to follow up.
My primary purpose in posting this follow up on JNS is to suggest, while the fundamental information my friend provided on Jones Apparel [JNY] can be important, it was his JNS stock symbol and its technical picture that caught my eye even more.
Not to open up a Pandora's Box on what is more important, fundamental or technicals? From my observations over the years, fundamental knowledge can be helpful, but as a technician: tell me when the next earnings report or critical information is being released? That is my fundamental information focus. To avoid surprises this kind of information is extremely important to me.
JNS is Janus Capital Group. If you look at the current daily chart technicals there are reasons to grow excited. The chart work [below] shows JNS daily as a Wave 4 pullback, a 90% 5/35 Elliott Oscillator pullback holding, a lower MOB and a blue W4 Channel support holding, a blue XTL continuing, a PTI greater than 35 suggesting normal profit-taking and increasing odds of at least one more rally, and the minimum 25% retracement holding. Under an aggressive Type 1 Buy premise, this setup is attractive for aggressive traders.
While I know my friend made a mistake with his stock symbol, I also want to encourage him.... keep on with your analysis, as you have always done good things from what I have seen. And, I would never have looked at JNS if you had not mentioned it.
If I can get some time before the July 4th holiday weekend, I will try to also follow up with a Jones Apparel (JNY) chart too, to see if I can help with that one too. http://share.esignal.com/groupconten...er=&groupid=20
Best wishes, your buddy from Ohio, Marc
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