article 3 months old

Break-Up For James Hardie

Technicals | Feb 12 2019

This story features JAMES HARDIE INDUSTRIES PLC. For more info SHARE ANALYSIS: JHX

By Michael Gable 

As we move through reporting season, more and more opportunities will emerge. Because of this, we have looked at a chart of James Hardie Industries ((JHX)).

After bottoming out in December, JHX started to track sideways in a tightening range. Volume was also coming back into the stock. After releasing some encouraging 3rd quarter results last week, the shares gapped up on strong volume and have held onto those gains. It now looks as though a low has formed in JHX and we should expect to see the share price continue to recover from here. Initial resistance will occur in the gap that was created back in November (indicated by the horizontal lines), but JHX should eventually breach that and head back up towards the range that it traded in during 2018 which is between about $21.00 and $24.00.

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Michael Gable is managing Director of  Fairmont Equities (www.fairmontequities.com)

Fairmont Equities is a share advisory firm assisting Private Clients with the professional management of their share portfolio. We are based in the Sydney CBD but provide services to private clients across Australia. We believe that the concepts of fundamental analysis and technical analysis of stocks are not mutually exclusive. Regardless of whether you are a trader or long term investor, combining both methods is crucial to success. As a result, the unique analysis of Fairmont Equities is featured regularly in the media such as Sky News Business, CNBC, The Australian Financial Review, and the ASX newsletter. Contact us for a free trial of our research and information on our portfolio management services. 

Michael is RG146 Accredited and holds the following formal qualifications:

• Bachelor of Engineering, Hons. (University of Sydney) 
• Bachelor of Commerce (University of Sydney) 
• Diploma of Mortgage Lending (Finsia) 
• Diploma of Financial Services [Financial Planning] (Finsia) 
• Completion of ASX Accredited Derivatives Adviser Levels 1 & 2

Disclaimer

Fairmont Equities Australia (ACN 615 592 802) is a holder of an Australian Financial Services License (No. 494022). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.
 

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JHX

For more info SHARE ANALYSIS: JHX - JAMES HARDIE INDUSTRIES PLC