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November 24, 2024, 01:14 am ET, BY Patrick- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy JHX near 34.71 with an upside target of 38.94. This data also tells us to set a stop loss @ 34.61 to protect against excessive loss in case the stock begins to move against the trade. 34.71 is the first level of support below 35.66 , and by rule, any test of support is a buy signal. In this case, support 34.71 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of JHX as it gets near 38.94 with a downside target of 34.71. We should have a stop loss in place at 39.05though. 38.94 is the first level of resistance above 35.66, and by rule, any test of resistance is a short signal. In this case, if resistance 38.94 is being tested, a short signal would exist.
If 37.41 begins to break higher, the technical summary data tells us to buy JHX just slightly over 37.41, with an upside target of 38.94. The data also tells us to set a stop loss @ 37.3 in case the stock turns against the trade. 37.41 is the first level of resistance above 35.66, and by rule, any break above resistance is a buy signal. In this case, 37.41, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
The technical summary data is suggesting a short of JHX if it tests 37.41 with a downside target of 35.39. We should have a stop loss in place at 37.52 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 37.41, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
If 37.41 begins to break higher, the technical summary data tells us to buy JHX just slightly over 37.41, with an upside target of 38.94. The data also tells us to set a stop loss @ 37.32 in case the stock turns against the trade. 37.41 is the first level of resistance above 35.66, and by rule, any break above resistance is a buy signal. In this case, 37.41, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
The technical summary data is suggesting a short of JHX if it tests 37.41 with a downside target of 35.39. We should have a stop loss in place at 37.5 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 37.41, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for James Hardie Industries Plc American Depositary Shares (ireland) (JHX) available here: JHX.
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This report was produced using AI developed by Stock Traders Daily. Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves. This methodology is also applied to Index options, ETFs, and futures. The objective of this specific report is to optimize trading in James Hardie Industries Plc American Depositary Shares (ireland) (NYSE: JHX) while incorporating prudent risk controls.