Intuit Inc Forecast and Stock Analysis
Technical INTU.L stock analysis for March 22, 2019.
Intuit Inc gained 0.53% in the last trading day, rising from £104.55 to £105.10 The price has risen in 6 of the last 10 days , but is still down by -5.23% for this period. Volume fell in the last day by -5.16 million shares, and in total, 3.07 million shares bought and sold for approximately £322.83 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the INTU.L stock was £105.10. This is 0.53% more than the trading day before Thursday, 21st Mar 2019.
During day the stock fluctuated 3.11% from a day low at £104.40 to a day high of £107.65.
30 day high of the INTU.L stock price was £118.00 and low was £103.40.
90 day high was £122.15 and low was £101.00.
52 week high for the Intuit Inc - £220.00 and low - £101.00.
Intuit Inc is the lower part of a wide and horizontal trend on short term, and normally this would pose a good buying opportunity, though a break down through the bottom trend line at £104.53 will give a strong sales signal and a trend shift may be expected. Given the current horizontal trend you can expect Intuit Inc with 90% probability to be traded between £103.20 and £117.74 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
A buy signal was issued from a pivot bottom point on Thursday March 21, 2019, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Intuit Inc holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at £108.87 and £113.57. A break-up above any of these levels will issue buy signals.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 24 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
Intuit Inc finds support from accumulated volume at £104.55.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved £3.25 (3.11%) between high and low. For the last week, the stock has had a daily average volatility of 3.14%.
Intuit Inc is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Sell Candidate
Intuit Inc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our recommendation for this stock since last evaluation from a Strong Sell Candidate to a Sell Candidate.