Intuit Offering Possible 14.94% Return Over the Next 29 Calendar Days / Why Intuit Shares Might Keep Rallying

Okay, we read everything about Intuit...including the latest on how the stock is trading. Mindful of that, as of today October 19, this is what some are saying about Intuit stock. MarketTamer writes: Intuit’s most recent trend suggests a bullish bias. One trading opportunity on Intuit is a Bull Put Spread using a strike $67.50 short put and a strike $62.50 long put offers a potential 14.94% return on risk over the next 29 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $67.50 by expiration. The full premium credit of $0.65 would be kept by the premium seller. The risk of $4.35 would be incurred if the stock dropped below the $62.50 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Intuit is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Intuit is bullish.

The RSI indicator is at 67.28 level which suggests that the stock is neither overbought nor oversold at this time.

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Why Intuit Shares Might Keep Rallying

Brian Pacampara for The Fool writes...

What: Shares of Intuit (NASDAQ: INTU  ) climbed 1.5% today after Bank of America upgraded the accounting software specialist from neutral, to buy.

So what: Along with the upgrade, analyst Kash Rangan raised his price target to $78 (from $69), representing about 16% worth of upside to yesterday's close. While value investors might be turned off by the stock's steady surge since late June, Rangan believes that continued growth at its small-business segment should fuel even further price appreciation.

Now what: BofA likes Intuit's risk/reward trade-off at the current levels. "We are upgrading INTU, as we see a changing in guard with the SMB business growing increasingly important," wrote BofA. "With consumer tax expectations moderating, we believe the opportunity in SMB/Pro Tax will be increasingly apparent." With Intuit shares surging to a new 52-week high today and trading at a 20-plus P/E, I'd wait for some of the enthusiasm to fade before betting too much on those prospects.