Our ALGO engine triggered a sell signal on JHX at $21.51 at yesterday’s ASX close.
Internal momentum indicators have been showing an “overbought” pattern since November 10th, which supports the ALGO Sell signal.
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The fundamentals in the building materials sectors have been mixed, but we expect a softer tone overall going into the end of the year.
Our first downside target is at $20.40 with a bigger level of support near the November 6th low of $19.20.
James Hardie
