JHX.AX climbs to highest close since February 5th


James Hardie (JHX.AX) Technical Analysis Report for Apr 17, 2018 [< 1 min read]
Highlights
JHX.AX closes above its opening price after recovering from early selling pressure
JHX.AX closes higher for the 6th day in a row
JHX.AX pushes through previous session high
JHX.AX rises to highest close since February 5th
TQ Sentiment
Report Sentiment: 40% Bullish
Technical Forecast:
Overview

Moving higher for the 6th day in a row, JHX.AX finished Tuesday at 23.35 gaining A$0.25 (1.08%). Today's closing price of 23.35 marks the highest close since February 5th. Trading up to A$0.16 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Saturday's high at 23.21, the market confirms its breakout through the prior session's high having traded A$0.22 above it intraday.

Daily chart for JHX.AX
Volatility

Tuesday's trading range was A$0.36 (1.55%), that's slightly above last trading month's daily average range of A$0.35. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to the key resistance level at 23.48.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

With prices trading close to this year's high at 23.85, upside momentum could accelerate should the stock be able to break out to new highs for the year.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for James Hardie
ConditionForecastDirectionWinAvgWorstBestEvents
Bullish Break through SMA 20 TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
High close to previous High TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
More market conditions identified for TQ Pro members...
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