Trade ideas
Intuit to release earnings on 11/19INTU has earnings on 11/19. Based on the 10% run-up to last quarters earnings, could be a nice 4-day trade here. Or build enough cushion to take a quarter or half-size position into earnings. Would not hold a full position through earnings without a 15% cushion.
10.53% stop based on an 10d ATR stop (x2.7). Or use the low of last Tuesday which is at the bottom of a support area.
Buy Point: 360.00
Stop Loss: 10.53% (322.09)
Position Size: R9.49
Alternative:
Buy Point: 360.00
Stop Loss: 4.93% (339.35)
Position Size: R20.28
INTU - 7.09% Potential Profit - Ascending TriangleAscending 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 as long as there are no strong pullbacks that trigger my new adjusted stop loss.
INTU - Uptrend + Bullish Hammer at value zoneI. 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 crosses and holds below 20MA
Note: Manage tightly because there is a relevant resistance level as displayed in the chart, potentially posing an obstacle to the development of the trend.
Plsd to hear yr comments.
Cheers
Ruben






















