James Hardie Industries plc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
James Hardie Industries plc stock price ended at $35.76 on Friday, after gaining 1.88%.
(Updated on May 03, 2024)
The James Hardie Industries plc stock price gained 1.88% on the last trading day (Friday, 3rd May 2024), rising from $35.10 to $35.76. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.04% from a day low at $35.33 to a day high of $36.05. The price has risen in 7 of the last 10 days and is up by 4.44% over the past 2 weeks. Volume fell on the last day by -6 thousand shares and in total, 30 thousand shares were bought and sold for approximately $1.09 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 very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -8.12% during the next 3 months and, with a 90% probability hold a price between $28.52 and $36.12 at the end of this 3-month period.
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JHX Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 4.44%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The James Hardie Industries plc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $37.48. On a fall, the stock will find some support from the short-term average at $35.31. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
A buy signal from a double bottom formation was found on Friday, April 19, 2024 and based on theory for this formation the price should go up by 24.02% to $44.35 within 46 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for James Hardie Industries plc stock
James Hardie Industries plc finds support from accumulated volume at $35.36 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.720 between high and low, or 2.04%. For the last week the stock has had daily average volatility of 2.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JHX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect James Hardie Industries plc to open at $35.71, and during the day (based on 14 day Average True Range), to move between $34.81 and $36.71, which gives a possible trading interval of +/-$0.95 (+/-2.65%) 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 5.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $36.10 (0.95%) than the support at $35.36 (1.12%), 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?
James Hardie Industries plc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.718 Sell Candidate Unchanged
Predicted Opening Price for James Hardie Industries plc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $35.71 ( 0.130%) | $35.76 |
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 | 36.43 | 1.88 % | |
| R2 | 36.16 | 1.11 % | ||
| R1 | 35.99 | 0.639 % | ||
| Current price: | 35.76 | |||
| Support | S1 | 35.44 | -0.90 % | |
| S2 | 35.27 | -1.37 % | ||
| S3 | 34.99 | -2.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.81 | 11.33 % | |
| R2 | 38.46 | 7.55 % | ||
| R1 | 36.10 | 0.95 % | ||
| Current price | 35.76 | |||
| Support | S1 | 35.36 | -1.12% | |
| S2 | 34.50 | -3.52% | ||
| S3 | 34.18 | -4.42% |
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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