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- 1 Accenture Plc. stock closed at $327.74 while observing a gain of 1.23% during the last intraday trading session.
- 2 The year-to-date return of Accenture Plc is 21.75% while the three-month return is 6.58%
- 3 Accenture Plc ( NYSE: ACN) stock’s 52-week price range is around $242 – $328.
The earnings of ACN have been increasing at an average yearly rate of 12%, which is lower than the IT industry’s average annual earnings growth of 23.3%. According to Simply Wall St., a financial website, the revenues of Accenture have also been rising at an average yearly rate of 10.2%. The company has a return on equity of 28% and net margins of 11.3%.
At press time, ACN stock price was $327.74 with an intraday minor gain of 1.23% trading above the major EMAs, showing positivity on the charts. Moreover, the intraday trading volume of ACN is 1.733 Million higher than the 10-day aggregate volume of 1.522 Million.
ACN stock has been on a strong upward trend from $240 on March 15th,2023 after the announcement of the earnings report on March 23rd, 2023. The stock soared from the low of $240 and reached a yearly high and an all-time high of $328 by June 16, 2023.
Thereafter, the bulls faced a strong resistance near $328 which stopped the upward move and the Accenture stock price dropped to form a support near $296 which is also the 38.20% Fibo level.
On July 12th, 2023, Accenture announced dividends of amount $1.12, a profit booking was observed and the price descended towards 23.60% Fibo level. However, the price took a rebound and reversed and rose.
On September 28th, the next earnings reports will be released. The forecasted EPS estimate is 2.648, and the revenue estimate is 16.059 Billion.
In the last three months, nobody sold its ACN shareholding in the IT company. Moreover, The Vanguard Group, Inc. is the top shareholder and owns 9.23% of the company and owns $19.1 Billion worth of shares with a total count of 58,249,484 and the Blackrock, Inc. is the second top shareholder and owns 7.56% of the company and owns 15.6 Billion worth of shares with a total count of 47,666,915.
Technical Analysis of ACN Stock Price in 1-D Timeframe
The price action for ACN stock showed that during the bulls’ run, the price increased by making streaks of break of structures by higher high swings and low swings. Moreover, to ascend upwards, Fibonacci levels of 78.60%, 50.00%, and 38.20% helped the price to sustain and the price followed trendline support effectively and rose with momentum to $328.
Moreover, observing the charts, the resistance was high at $328 price dropped significantly and formed support around the Fibonacci 23.60% and 38.20% levels around the price of $305, and from this level, the price rebounded and rose. There is a possibility for the ACN price to head toward the next resistance level of $330 and $342 and if boosted it can even skyrocket more.
Conversely, if the price breaks below the $320 major support level, it might decline toward $312.
At the time of publishing, Accenture Plc. (NYSE: ACN) is trading above the 20, and 50 EMA’s. RSI is around 68 in bullish territory. A bullish crossover is noticed in the MACD oscillator.
Summary
The ACN stock price has risen above $320 to regain bullish momentum and if sustains then might potentially shatter the annual high of $328. Technical parameters also support the rise and increase in bullish momentum. Accenture Plc (NYSE: ACN) stock prices are bullish on the 1-D time frame. Also, positive and buying sentiments are oriented by the traders and investors.
Technical Levels
- Support levels: The nearest support levels for ACN stock price are $227 and $221.
- Resistance levels: The nearest resistance levels for the Accenture stock price are $235 and $246.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
