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Intuit Inc.(INTU:NASDAQ) Elliott Wave Technical Analysis 28 August 23


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Intuit Inc., Elliott Wave Technical Analysis
Intuit Inc.,  (INTU:NASDAQ): Daily Chart, 28 August 23
INTU Stock Market Analysis: We successfully moved as expected after we bottomed in Minor wave 4 after a clear 3 wave move to the downside, which is by definition corrective in nature. At this point we are looking for upside target for wave 5. Equality between 5 and 1 stands at 547$.
INTU Elliott Wave Count: Wave 5 of (1).
INTU Technical Indicators: Below all averages.  
INTU Trading Strategy: Looking for longs into wave 5.  
TradingLounge Analyst: Alessio Barretta
 
INTU_8_28.thumb.png.e3f5aefff5b82c4906c8400a6faef374.png
 
 
 
Intuit Inc., INTU: 4-hour Chart 28 August 23
Intuit Inc., Elliott Wave Technical Analysis
INTU Stock Market Analysis: We have invalidation at 477$, but a sharp and sudden move lower could mean the upside is completed. WE are seeing volume spiking just like we did at the end of the triangle in Primary wave 4 before the upside into this wave (1).  
INTU Elliott Wave count:  Wave 5 of (1).
INTU Technical Indicators: Below all averages.  
INTU Trading Strategy: As we have an overlapping structure in wave 5 so far we could expect either an extension or a diagonal.
INTU_4H.thumb.png.18d5474c4c217cef735558777f79cfa7.png
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    • I have not tried AI for analysis; it is exciting to me, but unclear. It would be interesting to see some kind of training video with an example of use.
    • Thank you for the in-depth and detailed analysis with the graph.
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