James Hardie, HAH

A stock that announced a net profit for the 3rd quarter ending 31.12.99 up 321% and its making lower tops and lower bottoms. Ordinarily, in the other years such news would be moving the stock upwards. Goes to show just how critical charting has become. It is not the news or earnings that is important; it is the perception of the news that is the thing to watch. There is no other way to judge this than through charts.

But back to HAH. Solid support for this stock $3.00 to $3.20. The selling down of good quality stock like Pacifica, HAH and others cannot go on forever.

Chart illustrates no buying necessary until that trend line breaks.