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Advanced TA SearchArchive
- 4/5/2024 -
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Accenture plc (ACN) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Accenture plc (ACN). During the week, the ACN dropped -13.61 points, or -3.93%, and closed at 333.00 on Friday, April 5, 2024. Weekly volume was 17% above average.
ACN is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See ACN long-term trend chart]
A long-term uptrend had started on March 15, 2023 at 242.80 and reached 387.51 on March 7, 2024. ACN gained -144.71 points, or -59.60%, in 51 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 320.16 and resistance is at 396.72. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See ACN medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 288.46 and reached 387.51 on March 7, 2024. ACN gained -99.05 points, or -34.34%, in 18 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (388.45) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ACN may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See ACN weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 22, 2024. The distance between MACD and the signal line is relatively high and getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See ACN short-term trend chart]
A short-term downtrend had started on March 7, 2024 at 387.51 and reached 329.69 on March 25, 2024. ACN lost 57.82 points, or 14.92%, in 18 days. The price is now at the 5.72% retracement level.
 Daily Technical Indicators: [See ACN daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since March 8, 2024. This is an indication that the short-term trend is down.
The distance between the Bollinger Bands (24.26%) is close to one year high (21.04%). It is 160.10% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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