Trade Ideas Newsletter 03/13/2017

HRB is showing significant strength right now

Based on the analysis above in HRB, traders should determine that their portfolio can handle the additional risk from a new position. Also be sure that HRB is not significantly correlated with your existing positions. Lastly, experienced traders never ignore how a new addition relates both to the overall market conditions as well as their existing account. For example, check the S&P 500. Is it trending or stationary recently? Has it moved up or down though key levels? Be sure to matvh up your trading actions on HRB with the overall market so you are fighting the crowd.

CHART

Currently the important sentiment levels, evaluated by Traders For Wealth, have shown an increasingly positive bias toward HRB. Also, the price action in HRB has been moving up a lot. This is a strong sign for a potential upside breakout. Traders should view this as a bullish trade and make sure it aligns with the overall market mood, and their current positions.

H&R Block (HRB)

H&R Block, Inc. (H&R Block), through its subsidiaries, provides tax preparation and other services. The Company provides assisted income tax return preparation, digital do-it-yourself (DIY) tax solutions and other services and products related to income tax return preparation to the general public primarily in the United States, Canada, Australia and their respective territories. Assisted income tax return preparation and related services are provided by tax professionals through a system of retail offices operated directly by the Company or its franchisees. It offers tax support, planning, and business accounting and advisory services to its clients. The Company offers a range of online tax services, including preparation of federal and state income tax returns, review of tax returns by a tax professional, access to tax tips, advice and tax-related news, use of calculators for tax planning, error checking and electronic filing.