Intuit: the decline eases, the trend still holds
Intuit flat at -0.1%: the decline eases but the trend still holds firm
Intuit: the decline eases, the trend still holds
Our view last week
Intuit is in week 13 of a sell signal, and this week gained 2.8% following the double bottom in the 256 area, with an intermediate rebound of 10%. The technical picture is turning more nuanced: buying volume is back up to 88%, and the MACD histogram has narrowed to −3.9 from −6.13 two weeks ago.
This week's summary
Intuit's decline is losing steam without turning yet: the weekly MACD histogram has narrowed for a third straight week, to -1.99, and money flow has nearly halved from three weeks ago. But the RSI has sat at 29 for a month, and price is boxed into a tight corridor between the 270 and 276 areas. The short is above 21% in the money; the underlying trend still reads structurally strong.
IQS Phase
74
in tension
Signal Strength
2
decline losing steam
Sizing
MINIMUM
Ranking
#110 / 137
US stocks
Trade P&L %
+21.65%
from signal to today
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