INTU 05/22 $305/307.5 Call Credit SpreadINTU:
CCI: Way overbought
MACD: About to Flip
Earnings: 05/21, performed well, but unsure of how far it will rise
INTU trade ideas
INTU STRUCTURE KEY LEVEL ANALYSIS| SHORT BIASINTU chart has reached a key structure zone on the daily chart. It was climbing in the uptrend since the selloff and did more than 50% retracement.
I am bearish for the following reasons:
1- high S&P500 correlation. All major stocks are now trading more or less with the market, and I am bearish on SPY on the fundamental basis.
2-The structure level is strong and pronounced. I bet the longs that were there from the bottom/that are left will start closing should the stock break the uptrend support, which I think will happen. The short sellers are already here.
And yes yes, I know, don't trade against the FED, and that is true, but the market is too high anyway.
3-the reasonable continuation of the wave behavior pattern.
That is it for now. Subscribe for updates and more analysis! Like, to help the idea get to the top and support the channel.
Wish you all luck in your trading.
Why I'm Betting Long on Intuit and SalesforceFirst off, please don't take what I say seriously, this is on opinion basis, and I may have a conflict of interest. That being said, let us get to my thoughts. Both stocks are in the same CRM and cloud computing industry categories, and both had very similar growth correlations and periods. I believe as a long hold, both stocks are still continuing to meet many market expectations, and aren't high risk companies to invest in. You could see by my chart, I have set positive targets for both.
SHORT Short by put option to weekly level support $42SHORT Short by put option to weekly level support $42
INTU Elliot Wave Analysis by VIXtradersINTU. It has completed a major minueette wave (ii) at 0.5% FIB retracement of sub-wave (1) of 1. It has also completed its minor wave 2 of 1 in a a-b-c pattern. From here, INTU is in a strong bullish impulsive 5 waves structure towards 0.5 - 0.618 at 340-355 at (v) of minor 3. Resistance at around 292. Potential R/R 6:1.
INTU DAILYWEEKLY- Downtrend, strong sellers entering a demand area
Daily-confirmed swing high bouncing off EMAS with strong sellers to retest the $25.00 demand area
BUY ONLY ABOVE 293.25 OR SELL BELOW 284.25BUY ONLY ABOVE 293.25
TARGET 297.55
TARGET 301.25
TARGET 304.25
sl 287.25
OR
SELL BELOW 284.25
TARGET 281.25
TARGET 278.25
TARGET 2774.25
SL 286.75
INTU: Interesting Corporate Developments, Supportive FundamentalIntuit Inc. is close to buying Credit Karma Inc. for about $7 billion in cash and stock deal. The purchase, which could be announced by Monday, will push the maker of TurboTax deeper into the consumer finance space, the newspaper said. The acquisition would also be Intuit’s largest in its 37-year history.
Technically the stock is in little correction, but the Volume model supports further uptrend posture. Fundamentally, the financials, particularly, revenue and EPS are improving.
INTU Breaks to the UpsideINTU is completing a very short-term bottom formation, and moved up on strong volume. The all time high is well above the price for a Swing Trade run on momentum.
Intuit on Breakout watch
Entry level $286 = Target price $307 = Stop loss $282
Levels of Interest = $ 294 Breakout level.
Volume spiked.
Indicators bullish.
Golden cross complete.
P/E ratio = 47
Average Recommendation: overweight Average Target Price:$284
Company profile
Intuit, Inc. engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; and Strategic Partner. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses. The Consumer segment includes do-it-yourself and assisted TurboTax income tax preparation products and services. The Strategic Partner segment comprises professional tax offerings, which include Lacerte, ProSeries, ProFile, and ProConnect Tax Online among professional accountants. The company was founded by Scott D. Cook and Thomas A. Proulx in March 1983 and is headquartered in Mountain View, CA.
PLEASE GIVE US A LIKE IF YOU FIND OUR CONTENT HELPFUL, IT IS REALLY APPRECIATED
In callsWe took INTU 01/31 285c on Friday at the breakout. Sold half already, very nice move and should continue higher. Posted falling wedge a few weeks back and has consolidated after breakout to move higher. If it does come back down look for a retest of that breakout to go long, excellent r/r
INTUIT - DAILY CHARTHi, today we are going to talk about INTUIT and its current landscape.
We can observe at this timeframe, a confluence of technical factors, that entail a setup which might drive this asset to a new movement. The details of our analysis are highlighted in the chart above.
Want to know more about our trades and ideas? Join the Traders Heaven today.
Thank you for reading and leave your comments if you like.
To have access to our exclusive contents, and see more of our work, join the Traders Heaven today! Link Below.
Disclaimer: All content of Golden Dragon has only educational and informational purposes, and never should be used or take it as financial advice
INTUIT Good to Buy now?I see that the zone 240-249 is strong, there you can buy INTUIT, the MA500 look good under our zone and give us support.
The Targets are in chart , Good luck)))
INTU falling wedgePlayed calls from the bottom of this wedge to 262.50 last week. Today it tried to breakout but Im not convinced by watching the close. Earnings coming up soon so will be watching this.
INTU Long, bullish divergence 4H / 1DSee trade details in the chart.
I see there is a bullish divergence on the daiily and on the 4H chart. Weekly is still bearish, but in the bearishness I do expect the uptick as shown in the chart. It won't be a complete reversal per se, and and I more expect to get out at the bottom of the target zone, which will still be a 1:1.7 R/R ratio.
Stoploss is set on 2 ATR levels below, on the midterm.
