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.
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Accenture plc (ACN)

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Summary:
Weekly :Lane's Stochastic is overboughtStochastic has declined below the signal lineLane's Stochastic bearish divergenceBroken trend resistance lineBroken trend resistance line
Daily :Broken trend support lineStochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger BandsThe period of high volatility of the stock price
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It was the negative week for the Accenture plc (ACN). During the week, the ACN dropped -43.80 points, or -10.57%, and closed at 370.75 on Friday, January 7, 2022. Weekly volume was 55% 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 417.37 on December 29, 2021. ACN gained -399.63 points, or -2252.71%, in 607 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (179.75) 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 uptrend had started on March 23, 2020 at 137.15 and reached 417.37 on December 29, 2021. ACN gained -280.22 points, or -204.32%, in 92 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (343.38) 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 medium-term trend.

Weekly Technical Indicators: [See ACN weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 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 weekly Lane's Stochastic 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 link to access Lane's Stochastic 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, but getting smaller. It indicates that the current medium-term uptrend 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 November 26, 2021 at 352.70 and reached 417.37 on December 29, 2021. ACN gained -64.67 points, or -18.34%, in 33 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (385.97) 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 short-term trend.

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 below overbought area. Such crossover is considered a bearish signal.

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 fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is 114.13% higher then one year average. It indicates the period of high volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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) 35.37
Williams' Percentage Range (W%R) 75.30
Lane's Stochastic (%D-Slow) 24.35
Greed/Fear Indicator (GFI) 28.15
Moving Average Converg./Diverg. (MACD) 9.46
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.60
Williams' Percentage Range (W%R) 37.80
Lane's Stochastic (%D-Slow) 82.00
Overbought Bearish
Greed/Fear Indicator (GFI) 67.10
Moving Average Converg./Diverg. (MACD) 20.93
Trading Signals
Description Value Chart
Monthly Trendline Resistance 427.98
Upper Bollinger Band 423.49
Parabolic System 408.51
Weekly Stochastic Crossing 404.71
Weekly Trendline Resistance 401.07
20 Day Moving Average 395.83
Weekly Trendline Support 385.97
Monthly Trendline Support 380.70
50 Day Moving Average 377.29
Daily Stochastic Crossing 376.39
Price 370.75
Lower Bollinger Band 360.78
Quarterly Trendline Support 343.38
Quarterly Trendline Resistance 340.50
Sector and Industry
Description Name Rank
Sector Information Technology 4
Industry IT Consulting & Other Services 38
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 417.37
High Date 12/29/2021
Low 370.14
Low Date 01/07/2022
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 401.07
Support 385.97
Low 352.70
Low Date 11/26/2021
High 417.37
High Date 12/29/2021
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Support
Resistance 427.98
Support 380.70
Low 316.01
Low Date 10/04/2021
High 417.37
High Date 12/29/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 340.50
Support 343.38
Low 137.15
Low Date 03/23/2020
High 417.37
High Date 12/29/2021
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 215.06
Support 179.75
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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