JAMES HARDIE INDUSTRIES PLC (JHX) Elliott Wave Technical Analysis - TradingLounge

Analysis Overview

Our latest Elliott Wave analysis of JAMES HARDIE INDUSTRIES PLC (JHX) on the Australian Stock Exchange (ASX) suggests a medium-term downtrend. This signals potential risks for long positions, urging traders to assess strategies carefully. Below, we outline trend expectations, critical price levels, and market insights, providing a structured approach to understanding the stock’s movement.

JAMES HARDIE INDUSTRIES PLC (JHX) Elliott Wave Technical Analysis – 1D Chart (Semilog Scale)

Function: Major Trend (Intermediate Degree, Orange)

Mode: Motive

Structure: Impulse

Position: Wave C - Grey of Wave (2) - Orange

Details:

• Wave (2) - Orange appears to be ongoing in a Zigzag pattern.
• Recent sideways price action suggests a Triangle formation for Wave B - Grey, which now seems completed.
• The next expected movement is Wave C - Grey, likely pushing the stock lower if the price breaks below 49.16, confirming the downtrend continuation.
• Invalidation Point: 55.09
• Key Support Level: 49.16

JAMES HARDIE INDUSTRIES PLC (JHX) Elliott Wave Technical Analysis – 4-Hour Chart
TradingLounge (4-Hour Chart)

Function: Major Trend (Intermediate Degree, Orange)

Mode: Motive

Structure: Impulse

Position: Wave ((ii)) - Navy of Wave C - Grey of Wave (2) - Orange

Details:

• Wave B - Grey has completed as a Triangle, signaling the beginning of Wave C - Grey, expected to drive prices lower.
• The market is following a five-wave structure, labeled from ((i)) - Navy to ((v)) - Navy.
• Latest price action indicates Wave ((iii)) - Navy is unfolding, reinforcing bearish momentum.
• Invalidation Point: 55.09

Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation).

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Conclusion

This Elliott Wave analysis provides a structured forecast of market trends for JAMES HARDIE INDUSTRIES PLC (JHX). By identifying key price levels, validation, and invalidation points, traders can make more informed decisions. The outlined wave structures reinforce our expectation of a continued downtrend, offering traders valuable market insights for risk assessment and strategic positioning.