The price area where I see Intuit getting a bounce
|Intuit (INTU) saw a sharp selloff yesterday, finishing the trading day down roughly 11%. The move did not happen in isolation. This decline came alongside a broader pullback across the technology and software space, which added pressure to many names in the sector. From my perspective, this was not a random drop, but part of a larger market environment that has been weighing on growth-oriented stocks.
If INTU continues to move lower from here, there is a very clear area where I am watching for a potential bounce. The level I am focused on sits around the $400 mark. This area stands out to me for multiple reasons when I look at the technicals. First, $400 is a major whole round number, which often acts as a psychological level for traders and investors. Beyond that, this zone also lines up with a prior pivot low, making it a technically meaningful area of interest.
What adds to the importance of this level is the longer-term context. If Intuit were to trade down to the $400 area, it would represent the lowest price the stock has seen since May of 2023, roughly three years ago. That historical reference matters to me, especially when evaluating potential reactions at support. When a stock revisits a level it has not seen in years, it often becomes an area where market participants reassess value and positioning.
For background, Intuit trades under the ticker symbol INTU and is a software stock I have followed closely over time. Its portfolio of products includes TurboTax, QuickBooks, MailChimp, and Credit Karma. It is a company that I view through both a trading and longer-term investment lens, which is why moments like this draw my attention. When price approaches significant technical levels, I want to be aware of how the market may respond, particularly in the context of broader sector weakness.
On a personal level, I continue to like Intuit as a longer-term hold. The stock also pays a dividend, which adds to its appeal for investors who are thinking beyond short-term price action. While short-term volatility can be uncomfortable, I try to stay focused on structure, levels, and disciplined execution rather than emotion.
None of this changes the importance of proper risk management. Whether trading a potential bounce or evaluating INTU as a longer-term position, I believe risk should always be defined first. Markets can remain volatile longer than expected, and no level is guaranteed to hold. Managing risk is what allows traders and investors to stay in the game long enough for their technicals and thesis to play out.
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