Intuit (INTU) surged on Friday with a nice gap on the highest volume of the month. With a higher low forming around 48, the overall uptrend remains in place. As they say on the London Tube: mind the gap. This gap is bullish as long as it holds. A move back below 49 would call for a reassessment.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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