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- 9/22/2023 -
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Accenture plc (ACN) Technical Analysis
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|It was a first positive week for the Accenture plc (ACN). During the week, the ACN gained 3.56 points, or 1.14%, and closed at 316.09 on Friday, September 22, 2023. Weekly volume was -24% below average. |
ACN is a member of Information Technology Sector. Information Technology is the 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 330.43 on September 8, 2023. ACN gained -87.63 points, or -36.09%, in 25 weeks. The price is now at the 16.36% retracement level.
Medium-term trend: [See ACN medium-term trend chart]
A medium-term downtrend had started on September 8, 2023 at 330.43 and reached 311.00 on September 18, 2023. ACN lost 19.43 points, or 5.88%, in 1 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 311.89 and resistance is at 321.54. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a medium-term trend.
Weekly Technical Indicators: [See ACN weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since March 31, 2023. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
Short-term trend: [See ACN short-term trend chart]
A short-term uptrend had started on September 21, 2023 at 311.67 and reached 318.66 on September 22, 2023. ACN gained -6.99 points, or -2.24%, in 1 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See ACN daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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 link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since September 11, 2023. The distance between MACD and the signal line is low and getting smaller.
Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
Candlestick pattern: [See ACN candlestick chart pattern]
On Friday the chart has formed a Bearish Downside Tasuki Gap Candlestick pattern. This is a rare continuation formation that appears in a strongly downward moving market. The reliability of the Bearish Downside Tasuki Gap pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Downside Tasuki Gap Candlestick pattern during the last week.