ALGO Update: Stay Long James Hardie

Our ALGO engine triggered a buy signal for JHX on July 31st at $21.50.

Since then the stock has picked up almost 6% and is over 1% higher at $22.75 in early trade today.

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The company will release their Q1 FY19 results next Friday.

Expectations are that the EPS should rise to 67 cents per share on stronger earnings.

Our initial upside target is the May 16th high near $23.85.

James Hardie

Author: Todd

Todd has worked in the financial industry for 20 years. During this time, his primary focus has been in the Foreign Exchange, Global Equities and Fixed Income areas. Todd has also served as a Judicial Advocate in several tax cases in the US Federal Court.