I recorded a review for Accenture (ACN), a darling of the NYSE and highly participated stock. I liked doing the review also because this is the company I worked in the past initially as a consultant and then as an IT project manager. I love the way it is managed. It’s an hard-working, extreme work-ethics company (you may like it or not).
Hereunder is my video analysis for ACN:
The stock has long term support in the 55 area where an extension long setup (identified on the weekly chart) is located. This setup had a first target in the 71 area and we witnessed profit taking from that level.
The stock price has also support in the 64.30 area which will be confirmed above the 69 level. Above that price it would be ‘safe’ to take a long with a stop below 65.70, but the safer stop would be below 62.50.
Price has targets to 75.39 and then 79.40 and if the continuation of a move higher in the S&P500 is confirmed with price breaking above 1419, then those are the targets where ACN is headed.
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