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- 9/8/2023 -
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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 gave back -2.27 points, or -0.69%, and closed at 325.47 on Friday, September 8, 2023. Weekly volume was -36% 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 downtrend had started on December 29, 2021 at 417.37 and reached 242.80 on March 15, 2023. ACN lost 174.57 points, or 41.83%, in 63 weeks. The price is now at the 47.36% retracement level.
 Medium-term trend: [See ACN medium-term trend chart]
A medium-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 5.66% retracement level.
 Weekly Technical Indicators: [See ACN weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since March 31, 2023. 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 August 18, 2023 at 301.31 and reached 330.43 on September 8, 2023. ACN gained -29.12 points, or -9.66%, in 21 days. The price is now at the 17.03% retracement level.
 Daily Technical Indicators: [See ACN daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Lane's Stochastic or strongly overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Daily Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bearish divergence.
The daily MACD line is above its signal line since August 23, 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.
A Parabolic SAR (stop and reversal) indicator (323.99) comes close to the price (325.47). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
 Candlestick pattern: [See ACN candlestick chart pattern]
On Friday the chart has formed a Bearish Dark Cloud Cover Candlestick pattern. Bearish Dark Cloud Cover pattern is a trend reversal indicator which signifies the end of an uptrend and the start of a downtrend. The reliability of the Bearish Dark Cloud Cover pattern is considered a highly reliable pattern of market reversalUse the Technical Stock Screener to see the list of stocks that had a Bearish Dark Cloud Cover Candlestick pattern during the last week.
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