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IT Consulting & Other Services Industry Technical Analysis

Archive
- 8/5/2022 -
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Accenture plc (ACN)

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Summary:
Weekly :Overbought sectorBroken trend resistance lineWeekly  MACD line has moved above its signal lineBroken trend resistance line
Daily :Relative Strength Index and Williams' Percentage Range are overboughtLane's Stochastic is strongly overboughtLane's Stochastic and MACD bearish divergence20 Day Moving Average has crossed above the 50 Day Moving Average
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It was a third positive week after 3 consecutive negative weeks for the Accenture plc (ACN). During the week, the ACN gained 3.09 points, or 1.01%, and closed at 309.35 on Friday, August 5, 2022. Weekly volume was -33% 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 May 6, 2010 at 17.74 and reached 417.37 on December 29, 2021. ACN gained -399.63 points, or -2252.71%, in 607 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (172.07) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 downtrend had started on December 29, 2021 at 417.37 and reached 261.77 on July 14, 2022. ACN lost 155.60 points, or 37.28%, in 28 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (255.30) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ACN may retest the broken resistance line. It is considered to be a support 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 resistance line in a medium-term trend.

Weekly Technical Indicators: [See ACN weekly technical indicators chart]
Weekly technical indicators are neutral.

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. 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 2, 2022 at 299.41 and reached 310.81 on August 4, 2022. ACN gained -11.40 points, or -3.81%, in 2 days. The price is now at the 12.81% retracement level.

Daily Technical Indicators: [See ACN daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Williams' Percentage Range or strongly overbought daily Lane's Stochastic. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily 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 daily MACD line is above its signal line since July 18, 2022. This is an indication that the short-term trend is up.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 84.49
Overbought
Williams' Percentage Range (W%R) 12.10
Overbought
Lane's Stochastic (%D-Slow) 91.77
Strong Overbought Bearish
Greed/Fear Indicator (GFI) 88.05
Overbought
Moving Average Converg./Diverg. (MACD) 4.21 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.62
Williams' Percentage Range (W%R) 48.40
Lane's Stochastic (%D-Slow) 46.32
Greed/Fear Indicator (GFI) 50.61
Moving Average Converg./Diverg. (MACD) -13.26
Trading Signals
Description Value Chart
Monthly Trendline Resistance 326.11
Upper Bollinger Band 323.79
Monthly Trendline Support 311.64
Price 309.35
Daily Stochastic Crossing 309.07
Parabolic System 294.14
20 Day Moving Average 289.23
50 Day Moving Average 288.43
Weekly Stochastic Crossing 287.63
Lower Bollinger Band 265.38
Yearly Trendline Resistance 258.80
Quarterly Trendline Support 255.30
Quarterly Trendline Resistance 254.94
Sector and Industry
Description Name Rank
Sector Information Technology 10
Industry IT Consulting & Other Services 49
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 299.41
Low Date 08/02/2022
High 310.81
High Date 08/04/2022
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 299.41
Low Date 08/02/2022
High 310.81
High Date 08/04/2022
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 326.11
Support 311.64
Low 261.77
Low Date 07/14/2022
High 310.81
High Date 08/04/2022
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 254.94
Support 255.30
High 417.37
High Date 12/29/2021
Low 261.77
Low Date 07/14/2022
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 258.80
Support 172.07
Low 17.74
Low Date 05/06/2010
High 417.37
High Date 12/29/2021
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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