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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in H&R Block Inc (NYSE:HRB) based on the price action in the company's shares. Yesterday's price range of $23.72 and $23.81 is within the prior day'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 Inc 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, 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.

H&R Block Inc (NYSE:HRB) has potential upside of 29.5% based on a current price of $23.94 and analysts' consensus price target of $31.00. The stock should run into initial resistance at its 50-day moving average (MA) of $23.95 and subsequent resistance at its 200-day MA of $25.67.

H&R Block Inc share prices have moved between a 52-week high of $29.62 and a 52-week low of $22.79 and closed yesterday at 5% above that low price at $23.94 per share. The 200-day and 50-day moving averages have moved 0.02% lower and 0.3% lower over the past week, respectively.

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

Keywords: bearish am inside day candle h&r block inc

Ticker(s): HRB