|SHORT TERM COMMENTARY: |
James Hardie Industries N.V. [Wednesday 26 Apr. 2017]:
|(Autocomments)|| Weak Buy Candidate ( 3.61) Evalutation Downgraded|
|James Hardie Industries N.V. is up by 2.67% yesterday from AUD 21.69 to AUD 22.27 , and has now gained 6 days in a row. It is not often stocks manage to gain so many days in a row, and a day or two with fall should be expected. In the last 10 days the price of James Hardie Industries N.V. has been rising in a total of 7 out of 10 days, and is up by 6.45% over the past 2 weeks. Volume also increased last day along with the price which is positive technical sign, and in total there was traded 750 178 more shares than the day before. In total there were bought and sold 750 178 shares for approx. AUD 16,71 million.|
3 MONTH TREND
|James Hardie Industries N.V. has broken the narrow and weak rising short term trend up and even stronger raising rate are indicated. On reaction back there will be support on the roof on the current trend broken, which is AUD 21.67, a level that may pose a second chance to hit a runner. According to fan-theory AUD 23.52 will be next possible trendtop level and thereby pose a resistancelevel which may not be broken on first attempt. |
| Only positive signals in the chart today. James Hardie Industries N.V. holds buy signals from both short- and long term moving averages. In addition there is a general buysignal 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 AUD 21.38 and AUD 20.60. A break down bellow any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point at Wed. 22 March 2017 and this indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. |
RELATIVE STRENGHT INDEX (RSI)
|The stock holds a RSI14 at 78 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evalute the historic of the share as it may tell you something about the RSI-sensitiveness. |
SUPPORT AND RESISTANCE
|James Hardie Industries N.V. finds support from accumulated volume at AUD 19.83, AUD 19.08 and AUD 18.92 There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well in the next couple of days. |
|This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. Last day they the stock moved AUD 0.62 between high and low and this equals 2.86%. For the last week the stock has had an daily average volatility of 1.49%. |
The stock is very overbought on RSI14 (78). Normally this will pose a good selling opportunity, but since the stock has broken the trend up the chance for a major correction due to high RSI is very little as the stock will find support at the trend broken. Since the James Hardie Industries N.V. has been rising for 6 days in row the risk for the next couple of days have increased. We don't expect a major reaction back, the stock is in a very techincal good shape and therefor hold a positive evalution despite the very short term risk.
|Several short term signals along with are positive, and the stock has broken the rising trend up which indicates even stronger rising rate and we conclude that current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short term. Due to a possible false trendbreak a pure Buy Recommandition are held back. Due to some small weaknesses in the technical picture we have downgraded our recommandation for this stock from Buy Candidate to Weak Buy Candidate since last evaluation.|
OUR SHORT TERM CONCLUSSION: Weak Buy Candidate.