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Play of the Day (For Tuesday)
Interactive Chart
Monday, June 04, 2001

HRB - H&R Block $62.26 +1.30

Sunday's Comment:

HRB's MACD is set to issue another buy signal with one more up day like Friday's. Support has come in at $59 and resistance should be showing up at $61. Traders looking to initiate positions in HRB could do so on a break over $61.75 on volume of at least 600,000 shares. Volume is key on this break, so don't cheat if volume is lacking.

Monday's Update:

Traders listening to our Sunday update on HRB are already sitting on some gains. HRB did in fact breakout above resistance at $61.75 and on even greater volume than we anticipated. HRB traded 700,000 shares on Monday, which is a sure sign that institutions are still on the hunt. In addition, the pop above resistance was enough to cause the MACD to issue another buy signal. Traders looking to get into HRB at this point could do so on a pullback and subsequent bounce off of $61.75, or a break above today's high of $62.50 on volume of at least 600,000 shares. We will probably move our stop up to $59.25 tomorrow to protect some gains, but for now our stop remains at $58.40.

Picked on April 18th @ $52.85
Change since picked +9.41
Stop Loss @ $58.40 


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