Intuit (NASDAQ: INTU) is Testing Longer Term Resistance Levels
Intuit (NASDAQ: INTU) is Testing Longer Term Resistance Levels. If it breaks there are no longer term resistance levels above these.
Review the Trading Plans:
Long Term Trading Plans for INTU
May 7, 2018, 9:13 am ET
The technical Summary and associated Trading Plans for INTU listed below will help you make important timing decisions for your trades. This data is based on our proprietary analysis for INTU. In addition we offer Market Timing Models and Stock Filters in the links above which may increase the proficiency of the decisions you make.
INTU - (Long) Support Plan
Buy over 181.24 target 189.65 stop loss @ 180.98.
The technical summary data tells us to buy INTU near 181.24 with an upside target of 189.65. This data also tells us to set a stop loss @ 180.98 to protect against excessive loss in case the stock begins to move against the trade. 181.24 is the first level of support below 189.45 , and by rule, any test of support is a buy signal. In this case, support 181.24 is being tested, a buy signal would exist.
INTU - (Short) Resistance Plan
Short under 189.65 target 181.24 stop loss @ 189.91
The technical summary data is suggesting a short of INTU as it gets near 189.65 with a downside target of 181.24. We should have a stop loss in place at 189.91 though. 189.65 is the first level of resistance above 189.45, and by rule, any test of resistance is a short signal. In this case, if resistance 189.65 is being tested, a short signal would exist.