Technical Analysis:
ACN's current price shows signs of weakness with RSI at 47.57, indicating a neutral to slightly bearish momentum. The MACD reading of -2.18 suggests downward pressure. The stock is trading above its 200-day SMA of $331.54 but has recently shown consolidation around the 20-day SMA of $354.82.
Fibonacci Analysis:
Key Fibonacci levels indicate:
- Resistance: R1 at $360.67, R2 at $365.21, R3 at $372.55
- Support: S1 at $345.98, S2 at $341.44, S3 at $334.10
- Pivot point: $353.33
News Impact:
Recent positive catalysts include:
- Telstra-Accenture joint venture announcement for AI expansion
- High options trading activity with bullish sentiment, particularly for $290 strike calls expiring January 2025
- Multiple analyst upgrades with an average price target of $425.40
Price Prediction for Next Week:
Based on technical indicators and recent news:
- Bullish scenario (60% probability): Price likely to test R1 at $360.67
- Bearish scenario (40% probability): May find support at S1 $345.98
Trading Recommendation:
SELL with target entry at current levels. Multiple factors support this recommendation:
- Negative MACD indicating bearish momentum
- RSI below 50 showing weakening strength
- High options volume suggesting potential volatility
- Price struggling near key Fibonacci resistance levels
Target exit points:
- Short-term profit target: $345.98 (S1 level)
- Stop loss: $365.21 (R2 level)
Technical Analysis:
ACN's current price shows signs of weakness with RSI at 47.57, indicating a neutral to slightly bearish momentum. The MACD reading of -2.18 suggests downward pressure. The stock is trading above its 200-day SMA of $331.54 but has recently shown consolidation around the 20-day SMA of $354.82.
Fibonacci Analysis:
Key Fibonacci levels indicate:
- Resistance: R1 at $360.67, R2 at $365.21, R3 at $372.55
- Support: S1 at $345.98, S2 at $341.44, S3 at $334.10
- Pivot point: $353.33
News Impact:
Recent positive catalysts include:
- Telstra-Accenture joint venture announcement for AI expansion
- High options trading activity with bullish sentiment, particularly for $290 strike calls expiring January 2025
- Multiple analyst upgrades with an average price target of $425.40
Price Prediction for Next Week:
Based on technical indicators and recent news:
- Bullish scenario (60% probability): Price likely to test R1 at $360.67
- Bearish scenario (40% probability): May find support at S1 $345.98
Trading Recommendation:
SELL with target entry at current levels. Multiple factors support this recommendation:
- Negative MACD indicating bearish momentum
- RSI below 50 showing weakening strength
- High options volume suggesting potential volatility
- Price struggling near key Fibonacci resistance levels
Target exit points:
- Short-term profit target: $345.98 (S1 level)
- Stop loss: $365.21 (R2 level)