INTU Plunges -4.98%, Tests $628 Support
$Intuit(INTU)$
INTU Plunged -4.98%: AI Tax Giant Tests Critical Support at $628
Latest Close Data
Closed at $629.46 on Jan 5, 2026, down -4.98% (-$32.96). Price is now -22.6% below its 52-week high of $813.70.
Core Market Drivers
Despite strong AI-driven tax and small business platform growth, broad tech sector weakness and potential regulatory scrutiny on fintech giants pressured the stock.
No specific negative company news was reported, suggesting the move was sentiment-driven.
Technical Analysis
The sell-off came on elevated volume (2.74M shares, Volume Ratio 3.50). RSI(6) at 16.15 is deeply oversold, indicating a potential short-term bounce.
However, MACD (DIF: 0.50, DEA: 3.30, MACD: -5.60) shows a bearish crossover and widening negative histogram, confirming strong downward momentum.
Key Price Levels
Primary Support: $628.82 (Jan 2 low). A decisive break below could trigger further selling.
Immediate Pivot/Resistance: $660.82 (Recent resistance). Needs to reclaim this level to signal stabilization.
Strong Resistance: $700.00 (Psychological & previous consolidation zone).
Valuation Perspective
Forward P/E of 27.13 is below its historical average of 33.29 and near the -1 Std. Dev. band (29.36), suggesting valuation compression. TTM P/E of 43.19 remains high but reflects its premium SaaS business model.
Analyst Targets
28 analysts have an average price target of $806.13 (upside of +28.1%). Sentiment is bullish with 9 Strong Buy, 17 Buy, 5 Hold, and 1 Underperform ratings.
Weekly Outlook
Expect consolidation between $628 and $660 in the near term. A bounce from oversold RSI is likely, but sustained recovery needs to break above $660. A break below $628 support could target the next level near $610.
Risk Disclaimer
This analysis is for informational purposes only and not financial advice. Trading involves substantial risk. Past performance does not guarantee future results. Always conduct your own research.
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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
