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S&P 500 Overbought StocksArchive
- 4/5/2024 -
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Intuit, Inc. (INTU) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was the negative week for the Intuit, Inc. (INTU). During the week, the INTU dropped -14.26 points, or -2.19%, and closed at 635.74 on Friday, April 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 uptrend had started on November 4, 2022 at 352.63 and reached 671.01 on March 4, 2024. INTU gained -318.38 points, or -90.29%, in 69 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 518.52 and resistance is at 695.49. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See INTU medium-term trend chart]
A medium-term downtrend had started on March 4, 2024 at 671.01 and reached 620.33 on April 4, 2024. INTU lost 50.68 points, or 7.55%, in 4 weeks. The price is now at the 30.41% retracement level.
 Weekly Technical Indicators: [See INTU weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 15, 2024. This is an indication that the medium-term trend is down. 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 21, 2024 at 659.12 and reached 620.33 on April 4, 2024. INTU lost 38.79 points, or 5.89%, in 14 days. The chart has formed a Broadening Descending Wedge chart pattern.
 Daily Technical Indicators: [See INTU daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. 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 link to access Williams' Percentage Range help.
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 distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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 20 Day Moving Average 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.
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