Intuit may fall to 549.00 - 564.00

Our pivot point is at 648.

Our preference

Target 564.

Alternative scenario

The upside breakout of 648 would call for 675 and 691.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is below its 20 day moving average (640.713) but above its 50 day moving average (623.2924).

Supports and resistances

691 **

675 *

648 **

638

623.92 (USD-last)

580

564 **

549 *

533 **

Number of asterisks represents the strength of support and resistance levels.