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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Intuit Inc (NASDAQ:INTU) based on the price action in the company's shares. Yesterday's price range of $262.37 and $265.11 is within the prior day'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 Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Intuit Inc. provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally.

Based on a current price of $264.00, Intuit Inc is currently 32.4% above its average consensus analyst price target of $178.50. The stock should find resistance at its 50-day moving average (MA) of $272.50, as well as support at its 200-day MA of $252.61.

In the past 52 weeks, Intuit Inc share prices have been bracketed by a low of $166.52 and a high of $295.77 and closed yesterday at $264.00, 59% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has declined 0.4%.

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

Keywords: bullish am inside day candle intuit inc

Ticker(s): INTU