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

By James Quinn

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 $252.01 and $259.44 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 (NASDAQ:INTU) is currently priced 32.3% above its average consensus analyst price target of $178.50. Intuit Inc shares should encounter resistance at the 200-day moving average (MA) of $267.46 and support at the 50-day MA of $257.85.

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.

In the past 52 weeks, Intuit Inc share prices have been bracketed by a low of $187.68 and a high of $306.89 and closed yesterday at $263.85, 41% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.8%.

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