H&R Block Crosses Above its 10-day MA (HRB)

Published on Wed, 08/05/2015 - 12:03
By Adrienne Chilton in Moving average crossovers, HRB, h&r block, moving crosses, nyse:hrb

H&R Block (NYSE:HRB) shares have crossed bullishly above their 10-day moving average of $33.05 on a volume of 6.1 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of H&R Block have traded between a low of $27.42 and a high of $36.29 and are now at $35.56, which is 30% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.2%.

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.

There is potential upside of 4.6% for shares of H&R Block based on a current price of $35.56 and an average consensus analyst price target of $37.20. The stock should discover initial support at its 200-day moving average (MA) of $32.38 and subsequent support at its 50-day MA of $31.35.

By Adrienne Chilton
achilton@fnno.com

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