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- 1 ACN stock is rising through an interesting recovery pattern over the daily time frame chart.
- 2 ACN shares are trading above 100 and 200-days daily moving averages to reach the 20 and 50-EMAs.
- 3 Accenture Plc (NYSE: ACN) stock gained around 14.08% year to date.
Accenture Plc ACN stock is recovering through an interesting rising pattern over the daily time frame chart. Meanwhile, buyers are trying to push ACN share price towards the upper trendline of the ascending parallel channel. However, ACN shares tried to register its breakout from the recovery channel but failed multiple times. Due to the low accumulation rate of buyers, sellers took advantage to short the ACN share price.
ACN stock price was at $307.11 and gained 2.11% of its market capitalization intraday. Trading volume is above average which signifies the recovery of ACN through the channel.
Will ACN Stock Sustain in the Channel?
ACN stock price has been gaining through an interesting rising parallel channel over the daily time frame chart. However, ACN shares got dropped from the channel on Thursday’s trading session but got back inside the channel during yesterday’s trading session. Now, buyers need to come forward to save ACN shares from slipping. Meanwhile, ACN shares are above 100 and 200-days daily moving averages to reach the 20 and 50-EMAs.
ACN stock declined by 2.21% in a week and 5.16% in a month. Moreover, ACN lost around 0.77% in the last three months while it gained 14.08% in the last six months. In addition, Accenture stock recovered by 14.08% year to date.
Technical indicators are pretty divergent over the price action of ACN stock price. Relative strength index (RSI) showcases the upside trend of ACN. Moving average convergence divergence (MACD) showcases the negative velocity of ACN shares.
RSI was at 42 and is heading towards neutrality. The MACD line is below the signal line, highlighting the sustainability issues of ACN. Investors in Accenture Plc (NYSE: ACN) need to wait until the ACN stock price reaches the upper threshold of the rising parallel channel.
Summary
Accenture Plc ACN stock is recovering through an interesting rising pattern over the daily time frame chart. However, ACN shares got dropped from the channel on Thursday’s trading session but got back inside the channel during yesterday’s trading session. In addition, Accenture stock recovered by 14.08% year to date.
Technical indicators are pretty divergent over the price action of ACN stock price. Investors in Accenture Plc (NYSE: ACN) need to wait until the ACN stock price reaches the upper threshold of the rising parallel channel.
Technical Levels
- Support Levels: $301.70 and $300.00
- Resistance Levels: $310.35 and $315.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
