Since today’s Daily Alert comes hot on the heels of yesterday’s new Investment Digestissue, I’ll keep things short. Our new recommendation comes from Investors Intelligence Editor John Gray and is a great-looking stock in a long-term uptrend with near-term momentum.
“Intuit, Inc. (INTU, $60) is nearing a triple-top breakout. That signal is just over $2 away and should it occur it would go some way to reasserting the primary uptrend off the 2008 low. The all-time high of $62.33 is also within striking distance of current trading.
“The P&F relative chart exhibits a long-term rising trend of 8 years. 2012 has seen a sideways bullish consolidation of that trend.
“INTU is a buy candidate on any near-term weakness. Only a drop through $53 would put the primary price uptrend under threat. The yield is 1% but the attraction are the long-term price and relative uptrends.”
- Michael Burk and John Gray, Investors Intelligence, August 22, 2012