• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Intuit Inc (NASDAQ:INTU)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Intuit Inc (NASDAQ:INTU) based on the price action in the company's shares. Today's price range of $221.24 and $223.00 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Intuit Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Intuit Inc has traded in a range of $130.26 to $231.84 and is now at $221.57, 70% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has remained constant.

Intuit Inc (NASDAQ:INTU) is currently priced 19.4% above its average consensus analyst price target of $178.50. The stock should find initial support at its 50-day moving average (MA) of $217.61 and further support at its 200-day MA of $197.39.

Intuit Inc. develops and markets business and financial management software solutions for small and medium sized businesses, financial institutions, consumers, and accounting professionals. The Company provides software for small business management and payroll processing, personal finance, and tax preparation and filing.

SmarTrend is monitoring the recent change of momentum in Intuit Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Intuit Inc in search of a potential trend change.

Keywords: bearish inside day candle intuit inc

Ticker(s): INTU