More Upside for Intuit ?

Published on Wednesday, 08 September 2010 11:47 Written by TradersHuddle Staff

New York, September 8th (TradersHuddle.com) - Shares of Intuit Inc. (NASDAQ:INTU) booked a new 52 week high today by trading above $44.85, traders are definitely monitoring Intuit's price action to see if this move attracts further buying into the stock.

Intuit Inc. (NASDAQ:INTU) develops and markets business and financial management software solutions for small and medium sized businesses, financial institutions, consumers, and accounting professionals. The company products include Quickbooks, Quicken and Turbo Tax income tax preparation products and services for consumers and small business owners.

Intuit is currently trading 1.13% versus its previous trading session close, and it has calculated support and resistance at $41.83 and $44.85 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading higher by 0.86% from its previous trading close, which means that Intuit stock is outperforming the overall market.