• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Accenture Plc-A (NYSE:ACN)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Accenture Plc-A (NYSE:ACN) based on the price action in the company's shares. Yesterday's price range of $203.51 and $203.94 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Accenture Plc-A may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Accenture Plc-A (NYSE:ACN) defies analysts with a current price ($203.78) 16.8% above its average consensus price target of $169.56. The stock should find initial support at its 50-day moving average (MA) of $193.42 and further support at its 200-day MA of $186.59.

Accenture Plc-A share prices have moved between a 52-week high of $208.66 and a 52-week low of $132.63 and closed yesterday at 54% above that low price at $203.78 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.6%.

Accenture PLC provides management and technology consulting services and solutions. The Company delivers a range of specialized capabilities and solutions to clients across all industries on a worldwide basis. Accenture operates a network of businesses provides consulting, technology, outsourcing, and alliances.

SmarTrend recommended that subscribers consider buying shares of Accenture Plc-A on November 13th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $192.63. Since that recommendation, shares of Accenture Plc-A have risen 5.6%. We continue to monitor ACN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle accenture plc-a

Ticker(s): ACN