Why I'm Betting Long on Intuit and SalesforceFirst 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 market expectations, and aren't high risk companies to invest in. You could see by my chart, I have set positive targets for both.
Trade ideas
INTU Elliot Wave Analysis by VIXtradersINTU. It has completed a major minueette wave (ii) at 0.5% FIB retracement of sub-wave (1) of 1. It has also completed its minor wave 2 of 1 in a a-b-c pattern. From here, INTU is in a strong bullish impulsive 5 waves structure towards 0.5 - 0.618 at 340-355 at (v) of minor 3. Resistance at around 292. Potential R/R 6:1.
INTU: Interesting Corporate Developments, Supportive FundamentalIntuit Inc. is close to buying Credit Karma Inc. for about $7 billion in cash and stock deal. The purchase, which could be announced by Monday, will push the maker of TurboTax deeper into the consumer finance space, the newspaper said. The acquisition would also be Intuit’s largest in its 37-year history.
Technically the stock is in little correction, but the Volume model supports further uptrend posture. Fundamentally, the financials, particularly, revenue and EPS are improving.
Intuit on Breakout watch
Entry level $286 = Target price $307 = Stop loss $282
Levels of Interest = $ 294 Breakout level.
Volume spiked.
Indicators bullish.
Golden cross complete.
P/E ratio = 47
Average Recommendation: overweight Average Target Price:$284
Company profile
Intuit, Inc. engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; and Strategic Partner. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses. The Consumer segment includes do-it-yourself and assisted TurboTax income tax preparation products and services. The Strategic Partner segment comprises professional tax offerings, which include Lacerte, ProSeries, ProFile, and ProConnect Tax Online among professional accountants. The company was founded by Scott D. Cook and Thomas A. Proulx in March 1983 and is headquartered in Mountain View, CA.
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INTUIT - DAILY CHARTHi, today we are going to talk about INTUIT and its current landscape.
We can observe at this timeframe, a confluence of technical factors, that entail a setup which might drive this asset to a new movement. The details of our analysis are highlighted in the chart above.
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INTU Long, bullish divergence 4H / 1DSee trade details in the chart.
I see there is a bullish divergence on the daiily and on the 4H chart. Weekly is still bearish, but in the bearishness I do expect the uptick as shown in the chart. It won't be a complete reversal per se, and and I more expect to get out at the bottom of the target zone, which will still be a 1:1.7 R/R ratio.
Stoploss is set on 2 ATR levels below, on the midterm.






















