H&R Block Inc Stock Forecast

Red day on Wednesday for H&R Block Inc

(Updated on Sep 18, 2024)

HRB Signals & Forecast

The H&R Block Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $63.25. On a fall, the stock will find some support from the long-term average at approximately $61.21. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, August 20, 2024, and so far it has fallen -5.75%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Monday, April 29, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for H&R Block Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $54.54 and $53.17. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, H&R Block Inc finds support just below today's level at $54.54. If this is broken, then the next support from accumulated volume will be at $53.17 and $53.00.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.07 between high and low, or 1.71%. For the last week the stock has had daily average volatility of 1.70%.

Our recommended stop-loss: $59.53 (-5.16%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 78 days ago.)

Trading Expectations (HRB) For The Upcoming Trading Day Of Thursday 19th

For the upcoming trading day on Thursday, 19th we expect H&R Block Inc to open at $63.01, and during the day (based on 14 day Average True Range), to move between $61.35 and $64.19, which gives a possible trading interval of +/-$1.42 (+/-2.26%) up or down from last closing price. If H&R Block Inc takes out the full calculated possible swing range there will be an estimated 4.52% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $64.35 (2.52%) than the support at $54.54 (13.11%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is H&R Block Inc stock A Buy?

H&R Block Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.921 Hold/Accumulate Unchanged

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Predicted Fair Opening Price