James Hardie Industries plc Stock Forecast
James Hardie Industries plc stock price up 1.58% on Thursday
(Updated on Mar 28, 2024)
The James Hardie Industries plc stock price gained 1.58% on the last trading day (Thursday, 28th Mar 2024), rising from $39.83 to $40.46. During the last trading day the stock fluctuated 1.96% from a day low at $39.85 to a day high of $40.63. The price has risen in 6 of the last 10 days and is up by 0.37% over the past 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 40 thousand shares were bought and sold for approximately $1.60 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.83% during the next 3 months and, with a 90% probability hold a price between $39.66 and $46.66 at the end of this 3-month period.
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JHX Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -2.62%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The James Hardie Industries plc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $39.92 and $39.24. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for James Hardie Industries plc stock
On the downside, the stock finds support just below today's level from accumulated volume at $38.28 and $36.56. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, James Hardie Industries plc finds support just below today's level at $38.28. If this is broken, then the next support from accumulated volume will be at $36.56 and $35.83.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.780 between high and low, or 1.96%. For the last week the stock has had daily average volatility of 1.51%.
Our recommended stop-loss: $38.89 (-3.88%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (JHX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect James Hardie Industries plc to open at $40.31, and during the day (based on 14 day Average True Range), to move between $39.57 and $41.35, which gives a possible trading interval of +/-$0.89 (+/-2.19%) up or down from last closing price. If James Hardie Industries plc takes out the full calculated possible swing range there will be an estimated 4.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $40.78 (0.79%) than the support at $38.28 (5.39%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is James Hardie Industries plc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for James Hardie Industries plc stock to perform well in the short-term.
Current score: 4.525 Buy Candidate Unchanged
Predicted Opening Price for James Hardie Industries plc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$40.31 ( 0.362%) | $40.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JHX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.09 | 1.57 % | |
R2 | 40.80 | 0.83 % | ||
R1 | 40.61 | 0.374 % | ||
Current price: | 40.46 | |||
Support | S1 | 40.02 | -1.10 % | |
S2 | 39.83 | -1.55 % | ||
S3 | 39.53 | -2.29 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.41 | 2.35 % | |
R2 | 41.07 | 1.51 % | ||
R1 | 40.78 | 0.791 % | ||
Current price | 40.46 | |||
Support | S1 | 38.28 | -5.39% | |
S2 | 36.56 | -9.64% | ||
S3 | 35.83 | -11.44% |
JHX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 17, 2022 | May 26, 2022 | Jul 29, 2022 | $0.300 | 1.21% |
2 | Nov 10, 2021 | Nov 18, 2021 | Dec 17, 2021 | $0.400 | 1.02% |
3 | Feb 10, 2021 | Feb 18, 2021 | Apr 30, 2021 | $0.700 | 2.11% |
4 | Jan 01, 1900 | Nov 15, 2019 | Dec 20, 2019 | $0.100 | 0.504% |
5 | May 21, 2019 | Jun 05, 2019 | Aug 02, 2019 | $0.260 | 1.91% |
FAQ
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