INTU - Rising Trend Channel [MID-TERM]🔹Rising trend channel in the medium long term.
🔹In case of a NEGATIVE reaction, the stock has support at approximately 490.
🔹Short-term trading range has been positively signaled by breaking a resistance level.
🔹The RSI is showing a Bearish Divergence against the price, indicating a potential downward reaction.
🔹Technically positive for the medium long term.
Chart Pattern:
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom | BULLISH | 🟢
🔹HNS - Head & Shoulder | BEARISH | 🔴
🔹REC - Rectangle | 🔵
🔹iHNS - inverse head & Shoulder | BULLISH | 🟢
Verify it first and believe later.
WavePoint ❤️
1INTU trade ideas
INTU Intuit Options Ahead of EarningsAnalyzing the options chain and the chart patterns of INTU Intuit prior to the earnings report this week,
I would consider purchasing the 500usd strike price Calls with
an expiration date of 2023-9-15,
for a premium of approximately $12.80.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
INTU to end its consolidation period.INTU beat EPS and REV expectations and the valuation points to higher numbers.
Its business proved resiliency and the outlook doesn`t look so grim. INTU has a good history of EPS growth.
The stock might put an end to the consolidation period and renew its uptrend.
#notfinancialadvise. Adjust your size accordingly.
Intuit: Trust Your Gut 😊After it had started the ongoing descent so confidently at first, Intuit has been struggling in a sidewards movement. Now, the share should trust its gut and decide or rather intuit – pardon the pun! – to continue its journey to the south. We expect the course to drop below the support at $339.36, where it should complete wave B in green at about $303.29 before taking off again. Alternatively, Intuit could have already finished wave alt.B in green and thus climb above the resistance at $457.94 by now. We rate this alternative scenario with a probability of 38%.
Intuit: Skyfall 🪂You better not be afraid of heights, since Intuit is dropping rapidly and we're expecting the course to sink all the way below the $339.36-mark to finish the green wave ideally around the $303.29-mark, before turning the trend back up. In case the stock refuses to sink into a correction and crosses the resistance line at $441.98, our alternative scenario will be activated.
Symmetrical TrianglePrice has recovered from a break of the support line of the large triangle.
It appears to be hanging on to the support line.
Target 1 has been met. Sometimes that is all we can shoot for in the near term.
Alternative Bat/an M pattern noted.
Earnings 11-29 AMC. Projected numbers that are a bit higher than last quarter.
So far analysts have not given INTU an earnings break for this quarter. In some of the other stocks I follow, the numbers have been soft in comparison with last quarter.
No recommendation.
Symmetrical TriangleNeutral pattern until broken with a confirmed trend in that direction.
Prior Ugly Top and price is well below the neckline.
INTU has been below the support line of this triangle and popped back inside.
Struggling today and the daily candle turned from red to green while I was typing this.
Recent Pocket Pivots noted when price gets close or falls below the support line.
The Fed is speaking this afternoon about the interest rate hikes and inflation, so it is tough to figure out how the market will react.
Price is just above the .618 of the trend up.
Targets in green are for a break to the upside and targets below in orange are for a break to the downside. Sometimes we are lucky to shoot for T1 and the other targets kick in if the prior target is passed.
No recommendation.
“Hoping for the best, prepared for the worst, and unsurprised by anything in between.”
― Maya Angelou
Earnings BeatINTU beat earnings as was expected.
Possible issues at the .886 of the W pattern.
This pattern can also go to the 1.113 on occasion.
Both the .886 and the 1.113 are marked.
Possible Bearish Bat/The Alternate Bat can hit the 1.113. but usually has a smaller retracement of the 2nd leg than this one did.
NO recommendation.
Candle right now is a Doji, a candle of indecision so who knows?
I like candles of indecision at a bottom. Not so much at resistance so I will wait and see how this plays out.
INTU: Not so 'into' this stockIntuit
Short Term - We look to Sell at 478.00 (stop at 501.49)
This stock reported earning in line with expectations and reported a share buyback which led to a jump in shares premarket. We look to fade this brief rally.480.00 continues to hold back the bulls. Early optimism is likely to lead to gains although extended attempts higher are expected to fail. Further downside is expected although we prefer to sell into rallies close to the 480.00 level.
Our profit targets will be 421.00 and 400.00
Resistance: 480.00 / 580.00 / 660.00
Support: 420.00 / 340.00 / 280.00
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INTU - Broke out of symmetrical TriangleAfter falling about 52% from it's peak of 714 to a low of 339 on 12 May, INTU began to move sideways for the next 2.5 months, cumulating into a Symmetrical Triangle.
It began to break above this triangle yesterday and today continued on the upward trajectory. The trend is clearly reversing to the upside now and any near term pullback should ideally not fall back into the triangle.
Managed positions with trailing stops on the way up. Expect some resistance as it reaches around 490 - 500 (former support turned resistance).
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
AnalysisHello. On this chart, the support line is more important than the resistance line. We have a high probability of a downtrend if and only if the vwap indicator and the support line are forcefully broken by a large red candle and followed by a large red volume, therefore we can enter a sell position at the next red candle for caution. On the other hand, we must put the idea that we could also have a continuation of the uptrend if and only if also we have the breakout with force of the vwap indicator as well as the resistance line by a large green candle and accompanied by large green volume and right now we could enter a buy position at the next green candle. thank you.
INTU - near term upsideINTU hit the low on 13 May and has not gone any lower since. It has been chopping sideways for almost 2 months and appears to be forming an ascending triangle (odds of breaking up is greater).
On the monthly chart, we are seeing a possible 3rd inside bar this month and also a bullish divergence with the RSI.
A breakup of the ascending triangle at 425 could be early signs of optimism. However, an bounce right now may still be on a short term swing basis only until we see more signs of a sustainable reversal.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!