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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 $14.57 and $15.86 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.

In the past 52 weeks, H&R Block Inc share prices have been bracketed by a low of $11.29 and a high of $29.62 and closed yesterday at $15.08, 34% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 4.6% while the 200-day MA has slid 1.4%.

H&R Block Inc (NYSE:HRB) has potential upside of 105.6% based on a current price of $15.08 and analysts' consensus price target of $31.00. H&R Block Inc shares should first meet resistance at the 50-day moving average (MA) of $20.70 and find additional resistance at the 200-day MA of $24.21.

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 recommended that its subscribers protect gains by selling shares of H&R Block Inc on February 4th, 2020 by issuing a Downtrend alert when the shares were trading at $22.39. Since that call, shares of H&R Block Inc have fallen 32.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

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

Ticker(s): HRB