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Technical Analysis: H&R BLOCK, INC (#HRB)

๐Ÿ’กH&R Block, Inc., or H&R Block, is an American tax preparation company operating in Canada, United States, and Australia.


๐Ÿ“ˆ#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

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