💡H&R Block, Inc., or H&R Block, is an American tax preparation company operating in Canada, United States, and Australia.
📈#HRB broke the downward trend-line on 25 September 2020. From the beginning of October 2020 the stock has been trading sideways on the channel between $ 17 - $ 18.50 consolidating the range.
With a golden cross taking place (50 MA over 200 MA) we are confident the stock is gaining momentum to the upside: MACD over 0 is sloping up indicating a possible reversal.
The RSI at 60 can be anyway cause of concern, however we are confident that with such a positive momentum taking place, the RSI is confirming such trend.
Fibonacci 50% level at $ 18.09, we expect the stock to gradually overcome the level and reach the 61.8% at ~ $ 19.60: at this level, we will then expect major pullbacks.
Buy price $17.50
First target $18.68 (+6.85%)
Second target $19.60 (+ 13.04%)
Stop loss $16.00 (-8.50%)
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OTB Global Investments
17 November 2020