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Uptrend Broken SupportArchive
- 5/10/2024 -
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Accenture plc (ACN) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Accenture plc (ACN). During the week, the ACN climbed 2.62 points, or 0.86%, and closed at 306.33 on Friday, May 10, 2024. It was the best weekly gain since March 28, 2024. Weekly volume was 10% above average.
 Long-term trend: [See ACN long-term trend chart]
A long-term uptrend had started on March 15, 2023 at 242.80 and reached 387.51 on March 7, 2024. ACN gained -144.71 points, or -59.60%, in 51 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (327.43) is broken. A broken support is considered to be a long-term bearish 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 support in a long-term trend.
 Medium-term trend: [See ACN medium-term trend chart]
A medium-term downtrend had started on March 7, 2024 at 387.51 and reached 298.10 on May 1, 2024. ACN lost 89.41 points, or 23.07%, in 7 weeks. The price is now at the 9.20% retracement level.
 Weekly Technical Indicators: [See ACN weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Williams' Percentage Range or strongly oversold weekly Lane's Stochastic. 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 and Williams' Percentage Range help.
The weekly MACD line is below its signal line since March 22, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. 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 May 1, 2024 at 298.10 and reached 313.40 on May 8, 2024. ACN gained -15.30 points, or -5.13%, in 7 days. The price is now at the 46.21% 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 above oversold area. Such crossover is considered a bullish signal.
The daily MACD line is above its signal line since May 2, 2024. This is an indication that the short-term trend is up.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. 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.
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