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October 19, 2024, 04:32 am ET, BY Jesse F.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
The technical summary data tells us to buy HRB near 61.22 with an upside target of 65.67. This data also tells us to set a stop loss @ 61.04 to protect against excessive loss in case the stock begins to move against the trade. 61.22 is the first level of support below 61.49 , and by rule, any test of support is a buy signal. In this case, support 61.22 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of HRB as it gets near 65.67 with a downside target of 61.22. We should have a stop loss in place at 65.86though. 65.67 is the first level of resistance above 61.49, and by rule, any test of resistance is a short signal. In this case, if resistance 65.67 is being tested, a short signal would exist.
If 65.67 begins to break higher, the technical summary data tells us to buy HRB just slightly over 65.67, with an upside target of n/a. The data also tells us to set a stop loss @ 65.48 in case the stock turns against the trade. 65.67 is the first level of resistance above 61.49, and by rule, any break above resistance is a buy signal. In this case, 65.67, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
The technical summary data is suggesting a short of HRB if it tests 65.67 with a downside target of 61.4. We should have a stop loss in place at 65.86 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 65.67, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
If 61.9 begins to break higher, the technical summary data tells us to buy HRB just slightly over 61.9, with an upside target of 65.67. The data also tells us to set a stop loss @ 61.76 in case the stock turns against the trade. 61.9 is the first level of resistance above 61.49, and by rule, any break above resistance is a buy signal. In this case, 61.9, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
The technical summary data is suggesting a short of HRB if it tests 61.9 with a downside target of 61.4. We should have a stop loss in place at 62.04 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 61.9, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
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Prudent Investment Analysis requires observations of the support and resistance levels for H&r Block Inc. (NYSE: HRB) too. These define prudent trading plans.