Intuit Inc. Stock Forecast
Stronger technical forecast for Intuit Inc. stock price after Wednesday trading.
(Updated on May 15, 2024)
The Intuit Inc. stock price gained 2.68% on the last trading day (Wednesday, 15th May 2024), rising from 584.80€ to 600.50€. During the last trading day the stock fluctuated 2.30% from a day low at 587.00€ to a day high of 600.50€. The price has been going up and down for this period, and there has been a 0.86% gain for the last 2 weeks. Volume fell on the last day by -124 shares and in total, 85 shares were bought and sold for approximately 51.04€ thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is 590.74€, a level that may pose a second chance to hit a runner. According to fan-theory 622.13€ will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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ITU.F Signals & Forecast
The Intuit Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 589.76€ and 585.45€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 6.02%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Intuit Inc. stock
Intuit Inc. finds support from accumulated volume at 595.90€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved 13.50€ between high and low, or 2.30%. For the last week the stock has had daily average volatility of 1.06%
Our recommended stop-loss: 570.84€ (-4.94%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (ITU.F) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect Intuit Inc. to open at 596.00€, and during the day (based on 14 day Average True Range), to move between 591.45€ and 609.55€, which gives a possible trading interval of +/-9.05€ (+/-1.51%) up or down from last closing price. If Intuit Inc. takes out the full calculated possible swing range there will be an estimated 3.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 603.50€ (0.50%) than the support at 595.90€ (0.77%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Intuit Inc. will release earnings BMO on Thursday, May 23, 2024. We will update the financials statements for Intuit Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.65% in the first trading day after earnings release.
Is Intuit Inc. stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.948 Buy Candidate Upgraded
Predicted Opening Price for Intuit Inc. of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| 596.00€ ( 0.749%) | 600.50€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITU.F
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 609.50 | 1.50 % | |
| R2 | 604.34 | 0.640 % | ||
| R1 | 601.16 | 0.109 % | ||
| Current price: | 600.50 | |||
| Support | S1 | 590.84 | -1.61 % | |
| S2 | 587.66 | -2.14 % | ||
| S3 | 582.50 | -3.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 612.70 | 2.03 % | |
| R2 | 605.50 | 0.83 % | ||
| R1 | 603.50 | 0.500 % | ||
| Current price | 600.50 | |||
| Support | S1 | 595.90 | -0.766% | |
| S2 | 583.30 | -2.86% | ||
| S3 | 582.20 | -3.05% |
ITU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 09, 2024 | Apr 09, 2024 | Apr 18, 2024 | 0.83€ | 0% |
| 2 | Jan 09, 2024 | Jan 09, 2024 | Jan 09, 2024 | 0€ | 0% |
| 3 | Jul 07, 2023 | Jul 07, 2023 | Jul 07, 2023 | 0.780€ | 0% |
| 4 | Apr 06, 2023 | Apr 06, 2023 | Apr 06, 2023 | 0.780€ | 0% |
| 5 | Nov 17, 2022 | Jan 09, 2023 | Jan 18, 2023 | 0.780€ | 0% |
FAQ
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