Intuit’s Chart Signals Shift to Intermediate Downtrend

by Sam Collins | February 7, 2014 1:19 am

Intuit (INTU[1]) — This company provides business and financial management solutions for small businesses, consumers and accounting professionals.

Earnings are expected to increase 11% in fiscal 2014, ended in July, but the stock is currently selling at 20 times estimated earnings in an industry that is only modestly increasing its revenues.

INTU topped out above $77 in mid-January following a run from around $64 in late August. It has broken its near and intermediate support, and the 20-day moving average has crossed the 50-day moving average, signaling a shift to an intermediate downtrend. 

Sell INTU short at $72 or higher with an intermediate target of $64. Short-sellers should place a stop-loss order at $75. 

Short-selling is a speculative technique and not suitable for all investors. Check with your broker for any special requirements before shorting this stock.

02 07 14 intu 300x193 Intuits Chart Signals Shift to Intermediate Downtrend
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chart key 300x84 Intuits Chart Signals Shift to Intermediate Downtrend [2]

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