Intuit Inc. : Still a great upward potential
Entry price | Target | Stop-loss | Potential |
---|
$110 |
$117.5 |
$108.5 |
+6.82% |
---|
Intuit continues its bullish trend in order to test new highest level.
The company shows strong fundamentals. Firstly, sales are expected up at USD 4.6 billion for the current year. Furthermore, the high valuation of the group shows a great investors confidence in it because there are willing to pay a high price for the stock.
From a technical viewpoint, the security is trading in a bullish trend in the short and the long term. Increasing moving averages let think there will be no reversal in the coming trading sessions. This growth should help to reach soon the USD 117.5 resistance.
According to both technical and fundamental elements, it seems opportune to open a long position above the trendline at USD 109. If the stock crosses it, the main goal should will be the USD 117.5 resistance. A stop-loss will be placed around the USD 108.5 short term support to avoid a downtrend.
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