A Reversal for James Hardie Industries plc (JHX) Is Near. The Formed Double Top Chart Pattern

June 16, 2018 - By Nellie Frank

James Hardie Industries plc (NYSE:JHX) Logo

The chart of James Hardie Industries plc (JHX) shows a double top with $17.65 target or 9.00 % above today’s $16.19 share price. The 8 months chart pattern indicates low risk for the $7.14B company. It was reported on Jun, 16 by Finviz.com. If the $17.65 price target is reached, the company will be worth $642.42 million more. Double tops are rare but powerful chart patterns.

The stock decreased 0.80% or $0.13 during the last trading session, reaching $16.19. About 23,996 shares traded or 167.93% up from the average. James Hardie Industries plc (NYSE:JHX) has risen 11.57% since June 16, 2017 and is uptrending. It has underperformed by 1.00% the S&P500.

Another recent and important James Hardie Industries plc (NYSE:JHX) news was published by Seekingalpha.com which published an article titled: “James Hardie Industries’ (JHX) CEO Louis Gries on Q4 2018 Results – Earnings Call Transcript” on May 22, 2018.

James Hardie Industries plc, together with its subsidiaries, makes and sells fiber cement products. The company has market cap of $7.14 billion. It operates through four divisions: North America Fiber Cement, International Fiber Cement, Other Business, and Research and Development. It has a 49.06 P/E ratio. The firm offers fiber cement interior linings, fiberglass windows, exterior siding products, and related accessories products.

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