Trend Tracker for Intuit INTU

October 01, 2022, 07:45 am ET, BY Joseph H.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

The data for Intuit (NASDAQ: INTU) herein utilizes proprietary algorithms produced by Stock Traders Daily and refined since the turn of the century.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for INTU change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if INTU is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for INTU too.  All of these are offered below the Summary Table.

Longer Term Trading Plans for INTU

• Buy INTU slightly over 383.85 target 460.15 stop loss @ 382.74 Details

The technical summary data tells us to buy INTU near 383.85 with an upside target of 460.15. This data also tells us to set a stop loss @ 382.74 to protect against excessive loss in case the stock begins to move against the trade. 383.85 is the first level of support below 387.32 , and by rule, any test of support is a buy signal. In this case, support 383.85 is being tested, a buy signal would exist.

• Short INTU slightly under 460.15, target 383.85, stop loss @ 461.48 Details

The technical summary data is suggesting a short of INTU as it gets near 460.15 with a downside target of 383.85. We should have a stop loss in place at 461.48though. 460.15 is the first level of resistance above 387.32, and by rule, any test of resistance is a short signal. In this case, if resistance 460.15 is being tested, a short signal would exist.

Swing Trading Plans for INTU

• Buy INTU slightly over 399.54, target 460.15, Stop Loss @ 398.39 Details

If 399.54 begins to break higher, the technical summary data tells us to buy INTU just slightly over 399.54, with an upside target of 460.15. The data also tells us to set a stop loss @ 398.39 in case the stock turns against the trade. 399.54 is the first level of resistance above 387.32, and by rule, any break above resistance is a buy signal. In this case, 399.54, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short INTU slightly near 399.54, target 383.85, Stop Loss @ 400.69. Details

The technical summary data is suggesting a short of INTU if it tests 399.54 with a downside target of 383.85. We should have a stop loss in place at 400.69 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 399.54, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for INTU

• Buy INTU slightly over 389.77, target 399.54, Stop Loss @ 388.86 Details

If 389.77 begins to break higher, the technical summary data tells us to buy INTU just slightly over 389.77, with an upside target of 399.54. The data also tells us to set a stop loss @ 388.86 in case the stock turns against the trade. 389.77 is the first level of resistance above 387.32, and by rule, any break above resistance is a buy signal. In this case, 389.77, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short INTU slightly near 389.77, target 383.85, Stop Loss @ 390.68. Details

The technical summary data is suggesting a short of INTU if it tests 389.77 with a downside target of 383.85. We should have a stop loss in place at 390.68 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 389.77, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

INTU Ratings for October 01:

Term →	Near	Mid	Long
Rating	Weak	Weak	Weak
P1	0	0	310.46
P2	389.77	381.81	383.85
P3	406.57	399.54	460.15

Support and Resistance Plot Chart for INTU

Real Time Updates for Repeat Institutional Readers:

Factset: Request User/Pass

Bloomberg, Reuters, Refinitiv, Zacks, or IB users: Access Here.