Adrienne Chilton for FNNO.com writes: Intuit (NASDAQ:INTU) shares have crossed bullishly above their 10-day moving average of $76.21 on a volume of 345K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.
Intuit (NASDAQ:INTU) is currently priced 1.3% above its average consensus analyst price target of $75.56. The stock should find initial support at its 50-day moving average (MA) of $73.73 and further support at its 200-day MA of $65.74.
In the past 52 weeks, Intuit share prices have been bracketed by a low of $53.38 and a high of $76.89 and are now at $76.52, 43% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.
Intuit Inc. develops and markets business and financial management software solutions for small and medium sized businesses, financial institutions, consumers, and accounting professionals The Company provides software for small business management and payroll processing, personal finance, and tax preparation and filing.
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