HRB - H & R Block, Inc. $54.03 +1.19 (+3.26)
H & R Block keeps the momentum alive, as its shares advance to
mark its fourth-consecutive winning session. It appears as if
investors are putting their tax refunds right back into the
company that helped them get those refunds in the first place.
Although, as evidenced by the recent pick up in daily volume, it's
not just the retail investor that has become enamored with HRB.
The stock has broken through resistance at $53.30 on volume
roughly 20% higher than the three-month daily average of 500,000,
which means there is some conviction behind the recent advance.
Looking at the chart, it appears as though HRB is making a
parabolic move higher, which has us thinking that a pullback could
be imminent. However, if HRB does settle back, we will watch for
previous resistance at $53.30 to provide support, bolstered by the
5-dma at $52.20. As for resistance, we are looking at today's
high of $54.20 and then the $55 level. New plays could be
initiated on a successful retest of the $53.30 level or an advance
through today's high on volume that would put HRB on track to
trade 500,000 for the day.
Picked on April 18th@ $52.85
Change since picked $1.18
Stop Loss @ $49.25
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