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Intuit, Inc. (INTU) Message Board

  • thosehayden thosehayden Nov 27, 2005 4:19 PM Flag

    My Elementary Technical Analysis

    In 2002 the high was $55 in Nov. and then it sold off.

    In 2003 the high was $54 in Dec. and then it sold off.

    Looking back in time, Nov. and Dec have many times been a temporary high and then it has sold off in Jan - March.

    Until we really break above $55 its hard to get real bullish at these levels.

    It's also hard to argue against the seasonality of this stock. It just tops out in Nov. and Dec., sells off and then starts Rallying in April. I don't know why this time it would be any different.

    Before people begin jumping up and down, I'm just presenting facts that anyone can see by looking at a ten year history of the stock.

    As Gary B Smith would say, I would like to see it clear the resistance, and buy the strength. Until it clears the resistance putting fresh cash to work @ $54 doesn't seem like a good risk reward trade.

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