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S&P 500 Overbought StocksArchive
- 4/19/2024 -
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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 -15.94 points, or -2.57%, and closed at 605.17 on Friday, April 19, 2024. Weekly volume was -19% below average.
 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 523.39 and resistance is at 705.30. 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 598.01 on April 19, 2024. INTU lost 73.00 points, or 10.88%, in 6 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend support line (613.38) is broken. Usually a broken support is considered to be a long-term bearish signal, although a short-term pull back is possible. 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 support in a medium-term trend.
 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. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 598.01 on April 19, 2024. INTU lost 61.11 points, or 9.27%, in 29 days. The price is now at the 11.72% retracement level.
 Daily Technical Indicators: [See INTU daily technical indicators chart]
Daily Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily 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 daily MACD line is below its signal line since April 9, 2024. This is an indication that the short-term trend is down.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Information Technology |
5 |
| Industry |
Application Software |
35 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
659.12 |
| High Date |
03/21/2024 |
| Low |
598.01 |
| Low Date |
04/19/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| Status |
Broken Support |
| Resistance |
641.29 |
| Support |
613.38 |
| High |
671.01 |
| High Date |
03/04/2024 |
| Low |
598.01 |
| Low Date |
04/19/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Valid |
| Resistance |
705.30 |
| Support |
523.39 |
| Low |
352.63 |
| Low Date |
11/04/2022 |
| High |
671.01 |
| High Date |
03/04/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
339.36 |
| Low Date |
05/12/2022 |
| High |
671.01 |
| High Date |
03/04/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
3.48 |
| Low Date |
02/28/1997 |
| High |
716.86 |
| High Date |
11/19/2021 |
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