INTU is currently in a freefall, it is now down roughly 32% from its 52-week highs, a panic selling comprising a capitulation event. When a blue chip monopoly crashes like this without a fundamental business failure like fraud or bankruptcy, it usually presents a buying opportunity. Based on the following stats, I believe that INTU is approaching its accumulation phase.Forward P/E of 21x / Acceptable value based on 1.46 PEG / 77.41% Gross Margin and 21.19% Profit margin. Technically speaking, the 21 RSI suggests the rubber band is stretched so far down it is about to snap back, in addition to sitting on the 6 years lower wedge of a channel.
The stock may drop to as low as $520, breaking the $500 psychological mark may invalidate the setup.
#INTU #STOCKS #AHMEDMESBAH
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.