INTU closes higher for the 3rd day in a row
Intuit Inc. (INTU) Technical Analysis Report for Mar 15, 2019 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, INTU ended the week 4.98% higher at 258.13 after gaining $1.36 (0.53%) today on high volume, slightly underperforming the Nasdaq 100 (0.88%). Today's close at 258.13 marks the highest recorded closing price ever. Closing above Thursday's high at 256.91, the market confirmed its breakout through the previous session high after trading up to $2.95 above it intraday.
Daily Candlestick Chart (INTU as at Mar 15, 2019):
Friday's trading range has been $3.60 (1.4%), that's slightly below the last trading month's daily average range of $4.42. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently lower than usual for INTU.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Among the three market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "3 Consecutive Higher Closes" stand out. Its common bullish interpretation has been confirmed for Intuit. Out of 177 times, INTU closed higher 53.67% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 64.97% with an average market move of 1.05%.