Intuit Throws a Volume Flag (INTU)

Posted in General 
August 21st, 2009

INTUIT INC. (NASDAQ: INTU) just gave a serious volume alert for traders this morning.  As of 9:42 AM ES we have shares down 8.9% at $28.12, but more importantly we have seen over 1.85 million shares trade hands.  This is on the heels of last night’s earnings, but that is over 50% of an average day’s volume of almost 3.5 million shares.  The 52-week trading range is $20.18 to $32.00 and this one was peaking out just over $31.00 in the last two weeks. EARNINGS SUMMARY: Intuit (INTU) had its throw away quarter, but lost less than expected at -$0.10 EPS vs. -$0.12 estimates.  Unfortunately, no one was excited and the chart was indicative of needing a pullback.

AUGUST 21, 2009

Comments are closed