Bearish Moving Average Cross by Accenture (ACN)
Accenture (NYSE:ACN) crossed under its 10-day moving average of $116.07 on a volume of 544K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Accenture share prices have moved between a 52-week high of $117.59 and a 52-week low of $88.43 and are now trading 30% above that low price at $115.03 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.0%.
SmarTrend recommended that subscribers consider buying shares of Accenture on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $98.82. Since that recommendation, shares of Accenture have risen 17.9%. We continue to monitor ACN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses accenture