NEW YORK – Shares of financial software giant Intuit Inc. (INTU) ended the week on a sharply negative note, experiencing a significant sell-off that points to potential further weakness when markets reopen on Monday.
Intuit closed the trading day at
12.23 (1.60%). The stock was under pressure throughout the session, opening at $758.73 and failing to gain any meaningful traction. After hitting an early high of $763.01, shares began a consistent slide, breaking through multiple support levels and closing near the day’s low of $752.34. This indicates that selling pressure was sustained right into the closing bell.
After-hours trading offered little relief for concerned investors. The stock edged up a negligible
754.01. This flat, almost nonexistent movement after the bell suggests a lack of buying interest and does nothing to counteract the strong bearish momentum established during the regular trading session.
Analysis and Monday Outlook
The technical picture for Intuit Inc. appears bearish heading into next week. Key indicators from Friday’s session include:
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A Significant Price Drop: A 1.60% decline is a substantial move, indicating a clear shift in investor sentiment.
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Closing Near the Low: Finishing the day near the session’s bottom often signals that the downward momentum may carry over into the next trading day.
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Lack of After-Hours Rebound: Unlike stocks that see a quick recovery after hours, Intuit’s flat performance shows that buyers did not see the day’s drop as an immediate buying opportunity.
Given these factors, the market for Intuit Inc. is projected to open lower or face continued selling pressure on Monday.
Traders will be watching to see if the stock can hold above its recent low of $752.34. A break below this level could trigger further declines as the stock searches for a new support level. Without a positive catalyst over the weekend, the path of least resistance appears to be to the downside.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Market predictions are based on current data and are subject to change.
