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| Chart Analysis and Chart Pattern Recognition – Falling Wedge Pattern. |
A falling wedge pattern
is a triangle formation with noticeable slant to the downside. It represents the
loss of the downside momentum on each successive low and has a bullish bias.
The falling wedges pattern usually marks a reversal in a downtrend. In an uptrend, the falling wedge pattern is considered as a continuation pattern. As with other triangle formations, volume
usually diminishes as price rise and then increases during the breakout.
Falling Wedge Screening page presents a list of stocks forming Falling Wedge Pattern.
Tips:
# 1 To confirm the loss of the downside momentum at the reversal point, see bullish
divergence on technical indicators.
# 2 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques. |
Falling Wedge Pattern,Falling Wedge,Falling Wedge Chart Pattern,Charting technique, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading |
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Accenture plc (ACN) |
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| Summary:
| | Weekly :  | | Daily :
Move cursor over the icon to see details.
| | It was the negative week for the Accenture plc (ACN). During the week, the ACN dropped -2.95 points, or -1.17%, and closed at 250.00 on Friday, March 17, 2023. Weekly volume was 74% above 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. Price is near the trend low.
 Medium-term trend: [See ACN medium-term trend chart]
A medium-term downtrend had started on February 2, 2023 at 295.79 and reached 242.80 on March 15, 2023. ACN lost 52.99 points, or 17.91%, in 5 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 240.60 and resistance is at 261.94. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See ACN weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly 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 weekly MACD line is below its signal line since March 3, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend 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 March 15, 2023 at 242.80 and reached 255.73 on March 17, 2023. ACN gained -12.93 points, or -5.33%, in 2 days. The price is now at the 44.32% retracement level.
 Daily Technical Indicators: [See ACN daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since February 15, 2023. The distance between MACD and the signal line is low and getting smaller.
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