By Mill Chart
Last update: Sep 23, 2022
Our stock screener has spotted H&R BLOCK INC (NYSE:HRB) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:HRB.
ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.
Overall HRB gets a technical rating of 8 out of 10. In the last year, HRB was one of the better performers, but we do observe some doubts in the very recent evolution.
Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:HRB currently has a 9 as setup rating:
HRB has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 43.99, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for HRB in the last couple of days, which is a good sign.
One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.
This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.
More breakout setups can be found in our Breakout analyzer.
H&R BLOCK INC
NYSE:HRB (3/28/2024, 7:17:48 PM)
After market: 49.11 0 (0%)49.11
+0.45 (+0.92%)
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