I did not get to post a chart of this trade signal on HRB (H&R Block, Inc.) at the time I posted it on the blog since I was on travel during that time. But here is the chart I had that initiated the trade. A temporary bottom appeared to be in place for the tax prep service as it headed into earnings. I was able to capitalize on this with a call spread for a nice 59% profit. I still think it will float higher to close a gap and get to the 50% Fibonacci retracement level until its earnings call next week. But I'm not confident in the stock market as a whole holding up during that time and a decline in the market will put lressure on this stock. So I took profits. Here is the trade summary:
Closed HRB June 17. 20/23 call vertical at $1.59 for 59% profit. See original trade signal here.
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PLEASE NOTE: THIS IS AN ELLIOTT WAVE BLOG EXPRESSING AN OPINION AND IN NO WAY GUARANTEES OR IMPLIES ANY PROFIT OR GAIN. TRADE AT YOUR OWN RISK.