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- 3/15/2024 -
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Intuit, Inc. (INTU) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are overboughtBroken trend resistance linePrice is near the Fibonacci 23.6% retracement level
Daily :The price is below the lower Bollinger BandPrice has crossed below the 50 Day Moving Average
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It was the negative week for the Intuit, Inc. (INTU). During the week, the INTU dropped -26.21 points, or -4.02%, and closed at 625.52 on Friday, March 15, 2024. It was the worst weekly loss since January 5, 2024. INTU was trading at average weekly trading volume.

INTU is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See INTU long-term trend chart]
A long-term downtrend had started on November 19, 2021 at 716.86 and reached 339.36 on May 12, 2022. INTU lost 377.50 points, or 52.66%, in 24 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (389.61) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See INTU medium-term trend chart]
A medium-term uptrend had started on October 26, 2023 at 473.56 and reached 671.01 on March 4, 2024. INTU gained -197.45 points, or -41.69%, in 18 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See INTU weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See INTU short-term trend chart]
A short-term downtrend had started on March 4, 2024 at 671.01 and reached 621.04 on March 15, 2024. INTU lost 49.97 points, or 7.45%, in 11 days. The price is now at the 8.97% retracement level.

Daily Technical Indicators: [See INTU daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since February 27, 2024. This is an indication that the short-term trend is down.

The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 33.66
Williams' Percentage Range (W%R) 51.10
Lane's Stochastic (%D-Slow) 48.77
Greed/Fear Indicator (GFI) 43.79
Moving Average Converg./Diverg. (MACD) 4.47
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.06
Williams' Percentage Range (W%R) 12.90
Overbought
Lane's Stochastic (%D-Slow) 83.30
Overbought
Greed/Fear Indicator (GFI) 73.73
Moving Average Converg./Diverg. (MACD) 38.49
Trading Signals
Description Value Chart
Upper Bollinger Band 671.85
Parabolic System 661.74
Weekly Stochastic Crossing 659.77
20 Day Moving Average 654.15
Daily Stochastic Crossing 643.18
50 Day Moving Average 639.31
Lower Bollinger Band 628.73
Price 625.52
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry Application Software 60
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 671.01
High Date 03/04/2024
Low 621.04
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 473.56
Low Date 10/26/2023
High 671.01
High Date 03/04/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 352.63
Low Date 11/04/2022
High 671.01
High Date 03/04/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 339.36
Low Date 05/12/2022
High 671.01
High Date 03/04/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 3.15
Support 389.61
High 716.86
High Date 11/19/2021
Low 339.36
Low Date 05/12/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.