Accenture plc (ACN)

ACN stock forecast: buy or sell

ACN stock outlook

  • After marking new all-time highs yesterday, Accenture plc Class A (Ireland) closed at $219.15 climbing a 1.58%
  • Accenture plc provides consulting, technology, and outsourcing services worldwide.
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Please read:
The opinions expressed in this post are personal and should not be followed as recommendations for you to buy or sell stocks. The author of this text does not have an understanding of the specific scenarios of the reader, his or her own financial statements or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Comments are posted for learning motives only

ACN stock chart overview

Should I buy Accenture plc Class A (Ireland) stock?

Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is ACN stock a buy?

In the current situation of Accenture plc Class A (Ireland) there is just one buy setup eligible:

Uptrend buy setup

Accenture plc Class A (Ireland) stock is in an uptrend since in late March that so far has marked an amazing 61% gain. Price marked a pull back in this uptrend at $194.83 in mid-June, and since then it bounced off a 12.48%. Price just broke out above the buy point at $211.32, but it's still eligible. If price climbs above $221.89, you should not chase the price and wait for another pullback. If you decide to enter this trade, the suggested stop loss is at $190.19

Buy setupBuy pointStop lossRisk
Uptrend buy setup$211.32$190.1910%
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Should I sell Accenture plc Class A (Ireland) stock?

Knowing when to sell a stock is even more difficult than knowing when to buy it. Trading strategies help us to avoid rash decisions based on our emotions or the buzz that surrounds the market. When selling, as well as buying, our setups are very simple to use but are only valid for selling stocks in your porfolio, not for selling short Accenture plc Class A (Ireland) stock

A guiding principle is that you should never keep an operation that leads to greater losses than those expected by the time of the buy. The moment to sell your stock should always be determined by the stop-loss (automatic or manual)

Is it time to sell Accenture plc Class A (Ireland) stock?

Currently, Accenture plc Class A (Ireland) stock doesn't match any of our preferred sell setups, so if you hold Accenture plc Class A (Ireland) stock and your operation is in profit probably is not time to sell now

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Analysts' recommendations to buy or sell Accenture plc Class A (Ireland) stock

Brokerage firms and financial institutions post stock ratings based on their views of the market and the fundamental and technical situation of the analyzed stock. Unfortunately, the accuracy of these predictions is not very high, and certainly not a direct buy or sell signal

In the last 30 days, 13 ratings were published for Accenture plc Class A (Ireland)

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Accenture plc Class A (Ireland) ratings

Brokerage firmRating
Jun 17th, 2020
Citigroup Strong buy
Jun 18th, 2020
Bank of America Sell
Jun 18th, 2020
Wells Fargo & Co
Jun 19th, 2020
Cowen Buy
Jun 19th, 2020
Stifel Nicolaus Strong buy
Jun 23rd, 2020
Morgan Stanley Buy
Jun 26th, 2020
BMO Capital Markets
Jun 26th, 2020
Citigroup Strong buy
Jun 26th, 2020
Deutsche Bank Strong buy
Jun 26th, 2020
Robert W. Baird Neutral
Jun 26th, 2020
Susquehanna Bancshares Neutral
Jun 26th, 2020
UBS Group Neutral
Jun 26th, 2020
Wolfe Research

Technical analysis

Since in late March, Accenture plc Class A (Ireland) has been drawing an uptrend that by now marked a gorgeous 60.51%. The chart shows higher highs and higher lows, and along the way gave some buying opportunities for those who wanted to trade in. Latest low was in mid-June, when price bounced at $194.83. Accenture plc Class A (Ireland) broke out above $211.32 (its last top) on June 25. That breakout was a good buying opportunity

ACN at All-time Highs

Yesterday, Accenture plc Class A (Ireland) hit all-time highs (ATH) again at $221.87. It's the 5th time in the last 10 sessions, marking an important rally

SMAs overview

Moving averages are indicators for traders to detect stock momentum. A moving average is the average price of a stock over a set period of time. Usual time periods used for moving averages are 21 days, 50 days, 100 days and 200 days

Supports and resistances

Technical analysts use support and resistance levels as a way to spot price points in the stock price action that may act as barriers, containing the price of a stock to move up or down. Supports are levels where the price may find support as it falls. Price is more likely to "rebound" this level rather than break through it. However, if the price breaks down the support, it will probably continue declining until approaching another support level. On the other hand, resistance levels are where the price tends to find resistance as it moves up. In the same manner, the price is more liable to "bounce off" at this level, and if it finally ruptures this level, the price will rise easily until it approaches the next resistance

Price is at highs and there are not upper resistances.

The current supports are:

  • S1: $215.42 (-1.7% below)
  • S2: $211.47 (-3.5% below)
  • S3: $211.32 (-3.57% below)
  • Bollinger bands

    The so-called Bollinger bands are a popular studio created by John Bollinger. It comprises 3 lines that are drawn superimposed on the price evolution chart:

    • The central band is a moving average, usually a simple moving average calculated with 20 periods
    • The upper band is calculated by adding to the value of the simple moving average 2 times the standard deviation of the moving average
    • The lower band is calculated by subtracting from the simple moving average 2 times the standard deviation of the moving average

    The price is moving near to the upper Bollinger band, signaling some level of overbought in recent sessions. This is not a bearish indicator, as price can trade in these levels for many days and weeks

    Relative strength index

    The relative strength index (RSI) is a technical indicator used in the analysis of stock markets. Its objective is to plot the current and previous weakness or strength of a stock or market based on the closing prices of a recent trading period. Like other oscillation indicators, the RSI fluctuates from 0 to 100. The relative strength indicator is one of the best known and most widely used indicators, invented by J. Welles Wilder in the late 1970s

    The RSI dropped below the overbought level of 70 in early June after just crossing to the overbough zone for a single day (weak signal). The RSI reading today was 61.25. Since then, Accenture plc Class A (Ireland) stock exploded a 3.72%

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    Earnings and financials

    Accenture plc (ACN) came out with quarterly earnings of $1.90 per share, meeting the Wall St consensus estimate of $1.86 per share. The company said revenue for this quarter was $11.0 billion consistent with the market estimates as well.

    Same quarter one year ago, reported EPS was $1.93, so current EPS means a reduction of -1.55%. Turnover scarcely changed on an annualized basis in the Q2, from $11.1B to $11.0B last quarter.

    ACN posts quarterly earnings report next September. Forecasted earnings of %s per-share for this quarter is $1.72. Financial reporting day has a more than usual risk for stock traders as the results provided can gap up or down the price with exceptionally low liquidity and not respecting your buy/stop-loss orders. It's always good to review company's website to confirm time and details on the earnings call and the earnings report.

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