Waiting For Follow-Through
It looks bullish, but no
follow through. HR Block (HRB) formed a wide range bar and
closed just below 48 on active volume yesterday. Maybe it was only a short
covering rally, but it appeared the stock was setting up for another strong day.Â
10:20:51
(From TradersWire)
HR Block (HRB)
has failed to take out 48, and it is testing its intraday low. HRB is trading at
47.55, down 0.18.
In spite of yesterday’s performance, HRB opened down with a small gap. It
attempted to rally, but never reached 48. Immediately after the alert, the stock
slipped below the intraday low. Even you missed this breakdown, HRB provided us
another chance by forming a bear flag.
If it is not following through, the stock is obviously in trouble.
Have a nice afternoon session.
If you have questions, feel free to mail them to me.