How the (INTU) price action is used to our Advantage

June 18, 2024, 11:20 am ET, BY David D.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for INTU

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short INTU slightly under 603.72, target n/a, stop loss @ 605.46 Details

The technical summary data is suggesting a short of INTU as it gets near 603.72, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 605.46. 603.72 is the first level of resistance above 603.07, and by rule, any test of resistance is a short signal. In this case, if resistance 603.72 is being tested, so a short signal would exist.

Swing Trading Plans for INTU

• Buy INTU slightly over 603.72, target 605.75, Stop Loss @ 601.98 Details

If 603.72 begins to break higher, the technical summary data tells us to buy INTU just slightly over 603.72, with an upside target of 605.75. The data also tells us to set a stop loss @ 601.98 in case the stock turns against the trade. 603.72 is the first level of resistance above 603.07, and by rule, any break above resistance is a buy signal. In this case, 603.72, 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 603.72, target 588.39, Stop Loss @ 605.46. Details

The technical summary data is suggesting a short of INTU if it tests 603.72 with a downside target of 588.39. We should have a stop loss in place at 605.46 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, 603.72, 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 603.72, target 605.75, Stop Loss @ 602.31 Details

If 603.72 begins to break higher, the technical summary data tells us to buy INTU just slightly over 603.72, with an upside target of 605.75. The data also tells us to set a stop loss @ 602.31 in case the stock turns against the trade. 603.72 is the first level of resistance above 603.07, and by rule, any break above resistance is a buy signal. In this case, 603.72, 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 603.72, target 597.82, Stop Loss @ 605.13. Details

The technical summary data is suggesting a short of INTU if it tests 603.72 with a downside target of 597.82. We should have a stop loss in place at 605.13 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, 603.72, 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.

Check the time stamp on this data. Updated AI-Generated Signals for  Intuit Inc. (INTU) available here: INTU.

INTU Ratings for June 18:

Term →	Near	Mid	Long
Rating	Strong	Weak	Strong
P1	0	0	603.72
P2	597.82	588.39	657.4
P3	614.11	605.75	710.25

AI Generated Signals for INTU

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Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Intuit Inc. (NASDAQ: INTU) data table below can help you with price action, and we have more details too. Trading plans for INTU are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.