The Greedy Trader Weekly Analysis
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Monthly Pattern:Rising Wedge
Number of records: 1
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Chart Analysis and Chart Pattern Recognition – Rising Wedge Pattern.
A rising wage pattern is a triangle formation with noticeable slant to the upside. It represents the loss of the upside momentum on each successive high and has a bearish bias. Rising wedges pattern usually marks a reversal in an uptrend. In a downtrend, the rising wedge is considered as a continuation pattern. As with other triangle formations, volume usually diminishes as price rise and then increases during the breakout.
Rising Wedge Screening page presents a list of stocks forming Rising Wedge Pattern.
Tips:
# 1
The rising wedge appears in a mature trend characterized by overbought long-term and short-term indicators. This situation usually generates divergence on long-term indicators.
# 2 For the best results, this chart pattern should be considered together with other technical analysis signals and technical trading techniques.
Rising Wedge Pattern,Rising Wedge,Rising Wedge Chart Pattern,Stock Charting, chart pattern, charts, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading
Accenture plc
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Summary:
Weekly :Overbought sector
Daily :Williams' Percentage Range is overboughtLane's Stochastic is strongly overboughtPrice is close to the 50 Day Moving AverageBearish Advance Block CandlestickThe price moved above the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a second positive week after 3 consecutive negative weeks for the Accenture plc (ACN). During the week, the ACN gained 7.76 points, or 4.93%, and closed at 165.15 on Friday, November 09, 2018. Weekly volume was -19% below average.

ACN is a member of Services Sector. Services is the second 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 April 3, 2018 at 146.05 and reached 175.64 on September 21, 2018. ACN gained -29.59 points, or -20.26%, in 24 weeks. The price is now at the 35.45% retracement level.

Medium-term trend: [See ACN medium-term trend chart]
A medium-term downtrend had started on September 21, 2018 at 175.64 and reached 150.63 on October 29, 2018. ACN lost 25.01 points, or 14.24%, in 5 weeks. The price is now at the 58.06% retracement level.

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

The weekly MACD line is below its signal line since October 5, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively 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 October 29, 2018 at 150.63 and reached 165.65 on November 9, 2018. ACN gained -15.02 points, or -9.97%, in 11 days. Price is near the trend high.

Daily Technical Indicators: [See ACN daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily 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 daily MACD line is above its signal line since October 31, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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.

Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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.

Candlestick pattern: [See ACN candlestick chart pattern]
On Friday the chart has formed a Bearish Advance Block Candlestick pattern. This pattern occurs in an uptrend; it is not a top reversal pattern, but it might precede a meaningful price decline. The reliability of the Bearish Advance Block pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Advance Block Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.59
Williams' Percentage Range (W%R) 10.80
Overbought
Lane's Stochastic (%D-Slow) 92.40
Strong Overbought
Greed/Fear Indicator (GFI) 80.40
Overbought
Moving Average Converg./Diverg. (MACD) -2.01
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.16
Williams' Percentage Range (W%R) 46.40
Lane's Stochastic (%D-Slow) 25.87
Greed/Fear Indicator (GFI) 43.55
Moving Average Converg./Diverg. (MACD) 2.76
Trading Signals
Description Value Chart
Upper Bollinger Band 167.33
50 Day Moving Average 165.41
Daily Stochastic Crossing 165.23
Price 165.15
20 Day Moving Average 158.36
Weekly Stochastic Crossing 156.73
Parabolic System 155.63
Lower Bollinger Band 154.00
Sector and Industry
Description Name Rank
Sector Services 8
Industry Management Services 97
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 150.63
Low Date 10/29/2018
High 165.65
High Date 11/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 175.64
High Date 09/21/2018
Low 150.63
Low Date 10/29/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 146.05
Low Date 04/03/2018
High 175.64
High Date 09/21/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 73.98
Low Date 10/15/2014
High 175.64
High Date 09/21/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 17.74
Low Date 05/06/2010
High 175.64
High Date 09/21/2018
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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