ITU trade ideas
INTU LONGIntuit Inc. is an American business and financial software company that develops and sells financial, accounting, and tax preparation software and related services for small businesses, accountants, and individuals. The company is headquartered in Mountain View, California and the CEO is Sasan Goodarzi
$INTU with a bullish outlook following its earning release The PEAD projected a bullish outlook for $INTU after a negative under reaction following its earning release, placing the stock in Drift D
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Intuit to release earnings on 11/19INTU has earnings on 11/19. Based on the 10% run-up to last quarters earnings, could be a nice 4-day trade here. Or build enough cushion to take a quarter or half-size position into earnings. Would not hold a full position through earnings without a 15% cushion.
10.53% stop based on an 10d ATR stop (x2.7). Or use the low of last Tuesday which is at the bottom of a support area.
Buy Point: 360.00
Stop Loss: 10.53% (322.09)
Position Size: R9.49
Alternative:
Buy Point: 360.00
Stop Loss: 4.93% (339.35)
Position Size: R20.28
INTU - 7.09% Potential Profit - Ascending TriangleAscending Triangle broken out after a 6-month modest bull run.
- Target Entry $319.01
- Target Stop Loss $313.83
- Target Exit $339.72
About me
- August P/L: +203.83% | Wins 85.19% | No Trades without Analysis
- Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.