MOUNTAIN VIEW, CA – Shares of financial software company Intuit Inc (NASDAQ: INTU) took a substantial hit on Thursday, closing with a significant loss after a day characterized by relentless selling pressure. The lack of any recovery after the bell suggests a challenging open for the stock next week.
Intuit finished the trading day at
12.23 (1.60%). The stock attempted a brief rally after the open, reaching a high of $763.01, but the advance was quickly rejected. From there, it was a steady slide downwards for the remainder of the session, with the stock hitting a low of
0.028 to $754.01.
Analysis and Outlook for Monday:
The day’s trading pattern for Intuit was unequivocally bearish. The sustained downward trend throughout the session, coupled with a close near the intraday low, signals that sellers were firmly in command. The negligible movement in the after-hours market further reinforces this negative sentiment, indicating no immediate interest from buyers to step in at these lower prices.
Consequently, the outlook for Intuit for Monday’s market open is bearish. Investors should be prepared for the stock to potentially re-test or break below its recent low of $752.34 as the negative momentum from Thursday is likely to carry over into the new trading week.
