The Greedy Trader Weekly Analysis
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Downtrend Resistance
Downtrend Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Downtrend Resistance stock alert indicates that price is near long-term resistance trendline and probability of short-term trend reversal is high.

The strategy is based on selling long (or taking short) position on downtrend testing resistance. The strategy has low to medium risk and average reword.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for downtrend resistance trend trading. Stock trend chart - following long term trend and downtrend resistance.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,downtrend resistance

Accenture plc (ACN)

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range and Lane's Stochastic are strongly overboughtStochastic has declined below the signal lineRelative Strength Index, Lane's Stochastic and MACD bearish divergence
Daily :Williams' Percentage Range is overboughtDaily  MACD line has moved below its signal lineThe price has risen above the Parabolic SAR
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It was the negative week for the Accenture plc (ACN). During the week, the ACN gave back -1.44 points, or -0.39%, and closed at 369.79 on Friday, November 19, 2021. Weekly volume was 15% above average.

Long-term trend: [See ACN long-term trend chart]
A long-term uptrend had started on May 6, 2010 at 17.74 and reached 374.92 on November 17, 2021. ACN gained -357.18 points, or -2013.42%, in 601 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (177.77) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 March 23, 2020 at 137.15 and reached 374.92 on November 17, 2021. ACN gained -237.77 points, or -173.36%, in 86 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (329.67) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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 October 22, 2021. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See ACN short-term trend chart]
A short-term downtrend had started on November 17, 2021 at 374.92 and reached 369.28 on November 18, 2021. ACN lost 5.64 points, or 1.50%, in 1 days. The price is now at the 9.04% retracement level.

Daily Technical Indicators: [See ACN daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 71.16
Williams' Percentage Range (W%R) 12.70
Overbought
Lane's Stochastic (%D-Slow) 73.87
Greed/Fear Indicator (GFI) 77.45
Moving Average Converg./Diverg. (MACD) 7.76
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.70
Bearish
Williams' Percentage Range (W%R) 3.70
Strong Overbought
Lane's Stochastic (%D-Slow) 93.40
Strong Overbought Bearish
Greed/Fear Indicator (GFI) 83.41
Overbought
Moving Average Converg./Diverg. (MACD) 17.72 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 374.60
Daily Stochastic Crossing 371.55
Weekly Stochastic Crossing 371.23
Price 369.79
Parabolic System 364.81
20 Day Moving Average 364.27
Lower Bollinger Band 350.64
50 Day Moving Average 346.42
Quarterly Trendline Resistance 331.63
Quarterly Trendline Support 329.67
Sector and Industry
Description Name Rank
Sector Information Technology 6
Industry IT Consulting & Other Services 42
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 374.92
High Date 11/17/2021
Low 369.28
Low Date 11/18/2021
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 374.92
High Date 11/17/2021
Low 369.28
Low Date 11/18/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 316.01
Low Date 10/04/2021
High 374.92
High Date 11/17/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 331.63
Support 329.67
Low 137.15
Low Date 03/23/2020
High 374.92
High Date 11/17/2021
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 213.08
Support 177.77
Low 17.74
Low Date 05/06/2010
High 374.92
High Date 11/17/2021
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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