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Downtrend Broken Resist.Archive
- 9/22/2023 -
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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 -29.51 points, or -5.48%, and closed at 508.57 on Friday, September 22, 2023. Weekly volume was -29% below average.
INTU is a member of Information Technology Sector. Information Technology is the 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 (376.56) 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 May 12, 2022 at 339.36 and reached 558.64 on September 8, 2023. INTU gained -219.28 points, or -64.62%, in 69 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (414.10) is broken. Usually a broken resistance is considered to be a long-term bullish 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See INTU weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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 Lane's Stochastic help.
The weekly MACD line is above its signal line since November 25, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See INTU short-term trend chart]
A short-term uptrend had started on May 31, 2023 at 400.22 and reached 558.64 on September 8, 2023. INTU gained -158.42 points, or -39.58%, in 100 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (516.97) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. INTU may retest the broken support line. It is considered to be a resistance line now. 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 short-term trend.
 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. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since September 14, 2023. The distance between MACD and the signal line is near its high and getting bigger.
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 price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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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