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Watch for Intuit Inc to Potentially Pullback After Gaining 1.18% Yesterday

By Shiri Gupta

Intuit Inc (NASDAQ:INTU) traded in a range yesterday that spanned from a low of $256.97 to a high of $259.79. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $256.66 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Intuit Inc has traded in a range of $150.43 to $259.79 and is now at $259.79, 73% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.1% while the 200-day MA has risen 0.5%.

SmarTrend recommended that subscribers consider buying shares of Intuit Inc on January 8th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $200.97. Since that recommendation, shares of Intuit Inc have risen 27.8%. We continue to monitor INTU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders intuit inc

Ticker(s): INTU