$James Hardie Industries PLC (JHX.AU)$ shares rose 7.05% on Wednesday, with trading volume expanding to A$103.9 million. James Hardie has rose 9.87% over the past week, with a cumulative loss of 4.97% year-to-date.

James Hardie's technical analysis chart:

Technical Analysis:

• Support: A$59.12

• Resistance: A$47.67

• Price range A$59.12 to A$47.67: The trading range indicates a heavy concentration of buy orders, with the stock price on an upward trend. The stock repeatedly touched the level near A$47.67, where it found significant support and subsequently rebounded. There is a strong presence of buy orders around A$47.67, suggesting a robust foundation for the price. There is considerable upward pressure near the resistance level of A$59.12, with a lot of profit-taking positions, which suggests strong selling pressure. Going forward, it will be crucial to monitor whether the stock can effectively break through the resistance level at A$59.12.

Market News :

James Hardie reported its financial results for the second quarter ending September 30, 2024, with net sales of $961 million, a 4% decrease; GAAP operating income of $152 million at a 15.9% operating margin; GAAP net income of $83 million; GAAP diluted earnings per share (EPS) of $0.19; adjusted EBITDA of $263 million, an 8% decrease, with a margin of 27.4%, down by 1.2 percentage points; adjusted net income of $157 million, a 12% decrease; and adjusted diluted EPS of $0.36, down by 11%.

Aaron Erter, CEO, said

We again delivered on our commitments in the second quarter, and our first half results demonstrate that we are managing decisively as we continue to scale the organization and invest to profitably grow our business.

James Hardie forecasted an adjusted net income of at least $635 million for FY 2025, which is within the prior guidance range of $630 million to $700 million. The company also expected full-year capital expenditures to be between $420 million and $440 million, down from the prior guidance of $500 million to $550 million.

The Company repurchased 2.1 million shares of its common stock in the quarter at an average price of $35.84 per share for a total of $75 million, which completed the previously announced $300 million program. In November, the Company's Board of Directors authorized a new share repurchase program of $300 million to replace the completed program.

Overall Analysis:

Fundamentally, focus on the company's performance and operational status. Technically, it is necessary to monitor whether the stock price continues to stay within the upward channel, whether the support at the bottom of the channel remains valid, and whether the resistance level can be effectively broken through.

In this scenario, investors should adopt a cautious strategy, setting stop-loss points to manage risk and maintaining ongoing vigilance regarding company developments and market conditions.