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Possible Bearish Inside Day Candle Pattern Detected for H&R Block (NYSE:HRB)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in H&R Block (NYSE:HRB) based on the price action in the company's shares. Today's price range of $22.22 and $22.36 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of H&R Block may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

H&R Block has overhead space with shares priced $22.30, or 47.3% below the average consensus analyst price target of $42.33. The stock should run into initial resistance at its 50-day moving average (MA) of $26.01 and subsequent resistance at its 200-day MA of $32.54.

Over the past year, H&R Block has traded in a range of $19.18 to $37.53 and is now at $22.30, 16% above that low. The 200-day and 50-day moving averages have moved 0.72% lower and 4.01% lower over the past week, respectively.

H&R Block, Inc. provides a wide range of financial products and services through its subsidiaries. The Company provides tax services to the general public, accounting and consulting services, and consumer financial and personal productivity software. H&R Block provides its tax services to clients in the United States and other countries.

SmarTrend is tracking the current trend status for H&R Block and will alert subscribers who have HRB in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle h&r block

Ticker(s): HRB