HRB pushes through key resistance level
H&R Block Inc. (HRB) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
HRB finished the week 2.01% higher at 25.86 after gaining $0.23 (0.9%) today on low volume. Today's closing price of 25.86 marks the highest close since June 12th. Closing above Thursday's high at 25.82, the share confirms its breakout through the previous session's high having traded $0.16 above it intraday.
Daily Candlestick Chart (HRB as at Aug 10, 2018):
Friday's trading range was $0.47 (1.84%), that's above last trading month's daily average range of $0.38. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bullish Outside Bar.
Breaking through the key resistance level at 25.80 today, it is now likely to act as support going forward. After spiking up to 25.98 during the day, Block H&R found resistance at the 100-day moving average at 25.90.
Although the stock is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.