MAY SALE: Save over 60% on our Pro Plans!

JHX.AX slumps, loses A$0.68 (-2.88%) within a single day


Technical Analysis Report for JHX.AX - May 17, 2018 [1 min read]
Highlights
JHX.AX crashes, loses A$0.68 (-2.88%) within a single day
JHX.AX breaks key support level
JHX.AX dominated by bears dragging the market lower throughout the day
JHX.AX breaks below 50-day moving average
JHX.AX closes lower for the 2nd day in a row
TQ Sentiment
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, JHX.AX finished Thursday at 22.93 tanking A$0.68 (-2.88%). This is the biggest single day loss in over three months. Today's closing price of 22.93 marks the lowest close since April 12th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Wednesday's low at 23.58, the stock confirms its breakout through the previous session's low having traded A$0.71 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for JHX.AX
Volatility

Thursday's trading range was A$0.75 (3.18%), that's far above last trading month's daily average range of A$0.34. Weekly volatility is also higher, being above the markets average with the monthly volatility being below average.

Support/Resistance

Breaking below the key support level at 23.02 today, it is now likely to act as resistance going forward.

Trend

While James Hardie is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive. The share broke below the 50-day moving average at 23.04 today for the first time since April 6th.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bearish sentiment for the next trading day.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Price broke through Technical Support S1 TQ Pro Members Only
Bearish Break through SMA 50 TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
Decisive Down Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when James Hardie traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

CRUDE 72.661.18 1.65%
INDU 25,013.29298.20 1.21%
FTSE 7,859.1780.37 1.03%
SPX 2,733.0120.04 0.74%
HSI 31,234.35186.44 0.60%
DXY 93.475-0.125 -0.13%
NATGAS 2.864-0.006 -0.21%
DAX 13,077.72-36.89 -0.28%
GBPUSD 1.3425-0.0043 -0.32%
BTCUSD 8,414.53-100.03 -1.17%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV106.23 0.25
0.24%
ACN 10 day candlestick chart for ACN156.94 1.63
1.05%
ADBE 10 day candlestick chart for ADBE238.10 0.01
0.00%
AAP 10 day candlestick chart for AAP119.15 0.83
0.70%
AES 10 day candlestick chart for AES12.06 0.13
1.09%
AET 10 day candlestick chart for AET177.72 0.91
0.51%
AFL 10 day candlestick chart for AFL45.75 0.36
0.79%
AMG 10 day candlestick chart for AMG166.82 -0.89
-0.53%
A 10 day candlestick chart for A65.55 1.23
1.91%
ABT 10 day candlestick chart for ABT62.11 0.40
0.65%