Based on the latest market data and technical analysis, H&R Block (HRB) shows a bullish trend with the stock closing at $53.53, up 2.41% in regular trading hours.
The stock has demonstrated strong momentum, breaking above key resistance levels. Technical indicators suggest continued upward potential with RSI at 50.61 showing balanced momentum and MACD showing positive divergence with a 0.02 histogram value.
The stock is currently trading above both its 5-day (52.49) and 10-day (52.39) moving averages, indicating short-term bullish momentum. With a Bollinger Band position of 0.51, the stock has room to move higher before reaching overbought conditions.
Recent news indicates H&R Block is well-positioned in the tax preparation industry, with potential growth opportunities from increasing tax complexity. The company is also mentioned as one of the holdings with high upside potential in the SCHD ETF.
Recommendation: Buy HRB at current levels. The stock shows strong technical setup with fundamental support from its core business strength. Key target levels are:
- First resistance: $53.45 (Fibonacci R1)
- Second resistance: $54.04 (Fibonacci R2)
- Support: $51.51 (Fibonacci S1)