James Hardie Industries plc Stock Forecast
James Hardie Industries plc stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 19, 2024)
The James Hardie Industries plc stock price fell by -1.24% on the last day (Friday, 19th Apr 2024) from $54.00 to $53.33. It has now fallen 7 days in a row. During the last trading day the stock fluctuated 2.53% from a day low at $52.57 to a day high of $53.90. The price has fallen in 8 of the last 10 days and is down by -9.78% for this period. Volume has increased on the last day by 47 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 986 thousand shares were bought and sold for approximately $52.58 million.
Given the current horizontal trend, you can expect James Hardie Industries plc stock with a 90% probability to be traded between $54.01 and $63.76 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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JHX.AX Signals & Forecast
There are few to no technical positive signals at the moment. The James Hardie Industries plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $55.63 and $59.62. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -14.81%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for James Hardie Industries plc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.33 between high and low, or 2.53%. For the last week, the stock has had daily average volatility of 2.14%.
James Hardie Industries plc is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $50.31 (-5.66%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 17 which reduces the risk some. There is a sell signal from a pivot top found 28 days ago.)
Trading Expectations (JHX.AX) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect James Hardie Industries plc to open at $53.27, and during the day (based on 14 day Average True Range), to move between $51.95 and $54.71, which gives a possible trading interval of +/-$1.38 (+/-2.59%) 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 5.18% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $54.19, some $0.86 (1.61%) from the current price of $53.33, our system finds the risk reward not very attractive.
Is James Hardie Industries plc stock A Buy?
James Hardie Industries plc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.973 Hold/Accumulate Upgraded
Predicted Opening Price for James Hardie Industries plc of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $53.27 ( 0.119%) | $53.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JHX.AX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 54.60 | 2.38 % | |
| R2 | 54.09 | 1.42 % | ||
| R1 | 53.77 | 0.83 % | ||
| Current price: | 53.33 | |||
| Support | S1 | 52.76 | -1.07 % | |
| S2 | 52.44 | -1.66 % | ||
| S3 | 51.94 | -2.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.48 | 13.41 % | |
| R2 | 59.47 | 11.51 % | ||
| R1 | 54.19 | 1.61 % | ||
| Current price | 53.33 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
JHX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 18, 2021 | Nov 18, 2021 | Nov 18, 2021 | $0.400 | 0.743% |
| 2 | Feb 18, 2021 | Feb 18, 2021 | Feb 18, 2021 | $0.700 | 1.77% |
| 3 | Nov 07, 2019 | Nov 15, 2019 | Dec 20, 2019 | $0.147 | 0.515% |
| 4 | May 20, 2019 | Jun 05, 2019 | Aug 02, 2019 | $0.373 | 1.88% |
| 5 | Nov 08, 2018 | Dec 11, 2018 | Feb 22, 2019 | $0.111 | 0.616% |
FAQ
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