i think this is a safe buy on the dip, decent big money interest, i think it would take a while to go back to all time highs, but i think back to 330 within a month is reasonable if the market cooperates.
INTU has previously broken its support at the $313 level. It then went back to retest that same level, followed by a failure back beneath it. This tells me that it was a failed retest and more downside will continue to the 290-295 range.
Ascending Triangle broken out after a 6-month modest bull run.
- Target Entry $319.01
- Target Stop Loss $313.83
- Target Exit $339.72
About me
- August P/L: +203.83% | Wins 85.19% | No Trades without Analysis
- Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved...
INTU has recently formed a higher low, followed by an uptrend to a higher high into resistance around the $311 range. This is a correction wave in the chart.
I. Analysis
1. Clear and strong uptrend and evidenced by series of hh/hl + 20MA - look for long entries
2. 20MA working as a support area
3. Strong hammer just formed and glued to the 20MA
We are trading with the trend, from a value area and with a clean entry trigger.
II. Trade
1. Enter next candle
2. SL 1 ATR below 20 MA/ current pinbar
3. TP when price...
INTU chart has reached a key structure zone on the daily chart. It was climbing in the uptrend since the selloff and did more than 50% retracement.
I am bearish for the following reasons:
1- high S&P500 correlation. All major stocks are now trading more or less with the market, and I am bearish on SPY on the fundamental basis.
2-The structure level is strong...
First off, please don't take what I say seriously, this is on opinion basis, and I may have a conflict of interest. That being said, let us get to my thoughts. Both stocks are in the same CRM and cloud computing industry categories, and both had very similar growth correlations and periods. I believe as a long hold, both stocks are still continuing to meet many...
