Technical Summary: Over the last 5 years the overall trend for JHX has been up. But this has not been without volatility. It has been a year of high and lows for shareholders. In the middle of the year shareholders would have been pretty satisified to see the stock hitting all time highs. This feeling was short lived and within a week later the stock was breaking down heavily. It is never a positve sign to see a stock dramatically give up all time highs. And the stock continued this downtrend and broke a key area of
historical support before finding a base at around $17.50 per share. Since this time the stock has been behaving constructively as it broke out of its base before popping further on earnings. From here we would like to see the stock consolidate its pop before looking to enter on another breakout. Because of the severity of the fall from all time highs we expect a bit of upside resistance. Failure to