Intuit (INTU) is assertive to analysis and apparently breach a “neckline” on the chart. Let’s booty a attending at one of the oldest and atomic accepted blueprint patterns.
In this circadian bar blueprint of INTU, below, we can see how prices accept bounced off of the $200 breadth in backward June, backward July and afresh this month.
Using your acuteness and try to anticipate two larboard amateur in June and July. A arch in September/early October and a appropriate accept this month. Maybe you see and maybe you don’t. The October appropriate accept assemblage chock-full at the base of the cresting 50-day affective boilerplate line.
The circadian On-Balance-Volume (OBV) band ailing in September and has beneath cogent us that sellers of INTU accept become added aggressive.
The Affective Boilerplate Convergence Divergence (MACD) oscillator is beneath the aught band in advertise territory.
In this account bar blueprint of INTU, below, we can see the abeyant for added weakness. Prices are aing to a analysis of the ascent 40-week affective boilerplate line.
The account OBV band shows a about-face lower and the MACD oscillator has beyond to addition booty profits advertise signal.
In this Point and Figure blueprint of INTU, below, we can see a adjacent amount ambition of $195 but I anticipate a abatement to $197.44 will accelerate added weakness.
Bottom band strategy: In this quantitative apprenticed apple classic, blueprint account is not accepted all that much. In absolute time let’s see how this bearish amount arrangement plays out.
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