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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Intuit (NASDAQ:INTU) based on the price action in the company's shares. Today's price range of $107.35 and $108.20 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. Traders and investors interested in shares of Intuit may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Intuit have traded between a low of $53.38 and a high of $116.97 and are now at $107.90, which is 102% above that low price. The 200-day and 50-day moving averages have moved 0.12% lower and 0.24% higher over the past week, respectively.

Intuit (NASDAQ:INTU) defies analysts with a current price ($107.90) 2.8% above its average consensus price target of $104.83. Intuit shares have support at the 50-day moving average (MA) of $101.52 and additional support at the 200-day MA of $96.98.

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 tracking the current trend status for Intuit and will alert subscribers who have INTU in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle Intuit

Ticker(s): INTU