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Accenture plc (ACN) |
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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 gave back -1.67 points, or -0.59%, and closed at 280.47 on Friday, January 20, 2023. Weekly volume was 16% above average.
 Long-term trend: [See ACN long-term trend chart]
A long-term downtrend had started on December 29, 2021 at 417.37 and reached 242.95 on October 13, 2022. ACN lost 174.42 points, or 41.79%, in 41 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (223.25) is broken. A broken support is considered to be a long-term bullish signal. 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 resistance line in a long-term trend.
 Medium-term trend: [See ACN medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 242.95 and reached 305.13 on December 1, 2022. ACN gained -62.18 points, or -25.59%, in 7 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See ACN weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 4, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 December 20, 2022 at 253.50 and reached 287.97 on January 12, 2023. ACN gained -34.47 points, or -13.60%, in 23 days. Price is near the Fibonacci 23.6% retracement level.
Daily Technical Indicators: [See ACN daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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 Lane's Stochastic help.
The daily MACD line is above its signal line since January 6, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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.
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