ACN closes within previous day's range


Accenture plc (ACN) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
ACN runs into sellers around 161.47 for the third day in a row
ACN unable to break through key resistance level
ACN closes within previous day's range
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

ACN ended the week 0.19% higher at 160.68 after gaining $0.04 (0.02%) today on low volume. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.

Daily chart for ACN
Volatility

Friday's trading range was $1.59 (0.99%), that's slightly below last trading month's daily average range of $1.97. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Unable to break through the key technical resistance level at 161.39, the share closed below it after spiking as high as 161.47 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward. Accenture plc ran into sellers again today around 161.47 for the third trading day in a row after having found sellers at 161.74 in the previous session and at 161.65 two days ago.

Trend

The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Order Flow

Buying could speed up should prices move above the nearby swing high at 161.74 where further buy stops might get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Accenture plc
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Bearish High-Wave Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

ACN finds buyers again around 159.76

Aug 15, 2018
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