Break out?

The chart shows James Hardie Industries (ASX: JHX) breaking out of a symmetrical triangle pattern after a period of consolidation.

• Breakout confirmation: Price has moved above the upper trendline with increasing momentum, signalling potential bullish continuation.
• Fibonacci targets: Initial resistance levels are at 46.19 (Fib 0.618), 47.38 (Fib 0.5), and 48.56 (Fib 0.382). The major resistance sits near 50.02 before the prior high at 52.39.
• Upside potential: If the breakout holds, the measured move from the triangle suggests a climb towards the mid–high 40s in the short term, with a possible retest of the all-time high in the coming months.
• Risk level: A drop back below ~42.95 would invalidate the breakout and risk a move towards the 36.16 Fib extension support.