H&R Block May Have Momentum into Yearend

NYSE:HRB   H&R Block, Inc.
H&R Block started rallying in May. Now, after three months of consolidation, it may be starting to move again.

The first pattern on today’s chart is the price level at $37.53. It was a previous high from November 2015 where HRB bounced in October and earlier this month. Has old resistance become new support?

Next is the falling trendline along the highs of August and September, which prices broke last week. Notice how the 50-day simple moving average (SMA) is in a similar location.

Third, the 8-day exponential moving average (EMA) recently crossed above the 21-day EMA. (This chart uses our 2 MA Ratio custom script.)

Finally, MACD has been steadily rising for the last month.

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