200Day Might Become a Great Reference Point for Accenture

Published on Thursday, 02 February 2012 09:08 Written by Danny Miller

New York, February 2nd (TradersHuddle.com) - Shares of Accenture PLC (NYSE:ACN) traded at $58.42 close to its 200 day moving average currently set at $56.03. Accenture's price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

Accenture PLC (NYSE:ACN) provides management and technology consulting services and solutions. The Company delivers a range of specialized capabilities and solutions to clients across all industries on a worldwide basis.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $51.08 and calculated resistance at $57.41. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by Accenture stock.

Traders wanting to establish a position on Accenture will be looking at the price action for evidence of buying near the 200 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.