JHX.AX climbs to highest close since February 5th
James Hardie (JHX.AX) Technical Analysis Report for Apr 17, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (JHX.AX as at Apr 17, 2018):
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.
Prices are trading close to the key resistance level at 23.48.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
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.