H&R Block (NYSE:HRB) gets attention around tax time, but is mainly forgotten the rest of the year. Too bad for those that think that way, because the stock is giving three good reasons to buy it now.
First is the short term pattern. The price broke above an ascending triangle in June, and then pulled back to retest the breakout level. Now it is moving higher again and carries a target from the pattern to 39.50. The second reason is that the price movement into that ascending triangle would measure to 44 on an equivalent Measured Move higher. Finally the Point and Figure chart, or tick chart, shows a triple top breakout with a price objective to at least 66.50.
Suddenly checking out the tax store in August does not seem so scary.
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