H&R Block Nears $30 After Q4 Beat

H & R Block Inc HRB shares are trading higher by $2.70 (10.4 percent) at $29.69 in Wednesday's session.

The catalyst for the rally is a Q4 EPS beat of $0.24 along with a slight sales beat. The company raised its quarterly dividend from 22 cents to 24 cents per share.

After a much higher open, H&R Block retreated to $28.57 before continuing its move higher. So far, the ensuing rally has taken the stock to $29.89 and it's not far off that level.

The stock is attempting to enter a lightly traded area from $29.81 to $32.45, which was created on March 4, 2016 from the company's worse-than-expected Q3 2016 earnings report.