Intuit Inc. (INTU) Forecast

INTU is exhibiting significant technical weakness with a sharp downtrend over the past month. Stock has declined ~24% from the August 24 peak of $369.92 to current $275.84, breaking below key support levels. The recent price action shows lower highs and lower lows, with elevated volume on down days (7.2M on 8/25, 11.4M on 8/26, 7.7M on 9/18), indicating institutional selling pressure. Current PE of 16.76 appears reasonable but is not compelling given the negative momentum. The stock closed near session lows on 9/25 with low volume (1.66M), suggesting capitulation but with weak conviction for a reversal. Valuation relative to growth trajectory and recent earnings concerns warrant caution. Recommend waiting for stabilization above $290 resistance before reconsidering entry.