$INTU entered a “Go” trend at the end of April.
Since then, we saw that price raced higher, and a runaway gap took prices ultimately over $773. However, we then saw a Go Countertrend Correction Icon (red arrow) indicating price may struggle to go higher in the short term. Indeed, we then saw price move sideways as GoNoGo Trend painted a string of weaker aqua bars. GoNoGo Oscillator fell to test the zero line from above and we saw a virtual tug of war between buyers and sellers at these levels. GoNoGo Oscillator rode the zero line and we saw a GoNoGo Squeeze build. Now, we see GoNoGo Oscillator rallying off the zero line back into positive territory and GoNoGo Trend painting a strong blue “Go” bar as price challenges overhead resistance. We will look for prices to consolidate at these higher levels and climb to set new highs.
