The Greedy Trader Weekly Analysis
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Uptrend Support

Uptrend Support 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. Uptrend Support stock alert indicates that price is near long-term support trendline and probability of short-term trend reversal is high. The strategy here is to take advantage of established uptrend price pullback and entering the long position just prior to the continuation of the trend. The strategy has relatively low risk.

Uptrend Support

Archive
- 3/15/2024 -
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Accenture plc (ACN) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend support lineWilliams' Percentage Range and Lane's Stochastic are overbought
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARPrice is near the Fibonacci 38.2% retracement levelThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Accenture plc (ACN). During the week, the ACN gave back -3.57 points, or -0.94%, and closed at 374.60 on Friday, March 15, 2024. It was the worst weekly loss since January 5, 2024. Weekly volume was -10% below average.

ACN is a member of Information Technology Sector. Information Technology 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 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 price is now at the 8.92% retracement level.

Medium-term trend: [See ACN medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 288.46 and reached 387.51 on March 7, 2024. ACN gained -99.05 points, or -34.34%, in 18 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (384.24) 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 medium-term trend.

Weekly Technical Indicators: [See ACN weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and 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 above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. 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 March 7, 2024 at 387.51 and reached 366.87 on March 15, 2024. ACN lost 20.64 points, or 5.33%, in 8 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See ACN daily technical indicators chart]
Daily technical indicators are neutral.

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 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.45
Williams' Percentage Range (W%R) 65.60
Lane's Stochastic (%D-Slow) 48.93
Greed/Fear Indicator (GFI) 43.59
Moving Average Converg./Diverg. (MACD) 3.98
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 70.15
Williams' Percentage Range (W%R) 18.90
Overbought
Lane's Stochastic (%D-Slow) 85.48
Overbought
Greed/Fear Indicator (GFI) 74.71
Moving Average Converg./Diverg. (MACD) 15.45
Trading Signals
Description Value Chart
Monthly Trendline Resistance 413.75
Upper Bollinger Band 387.98
Parabolic System 385.88
Monthly Trendline Support 384.24
Weekly Stochastic Crossing 383.45
Daily Stochastic Crossing 377.94
20 Day Moving Average 376.14
Price 374.60
50 Day Moving Average 367.54
Lower Bollinger Band 363.49
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry IT Consulting & Other Services 77
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 387.51
High Date 03/07/2024
Low 366.87
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 358.97
Low Date 02/21/2024
High 387.51
High Date 03/07/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 413.75
Support 384.24
Low 288.46
Low Date 10/27/2023
High 387.51
High Date 03/07/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 242.80
Low Date 03/15/2023
High 387.51
High Date 03/07/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 417.37
High Date 12/29/2021
Low 242.80
Low Date 03/15/2023
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.