Accenture Is Close to its 50 Day Moving Average
Published on Monday, 16 April 2012 08:04 Written by TradersHuddle Wire
New York, April 16th (TradersHuddle.com) - Accenture PLC (NYSE:ACN) closed the trading day at $62.55, near its 50 day moving average that is set at $61.23. Accenture's price action is just above this important support level, providing a 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.
The peaks and troughs algorithm shows calculated support at $51.08 and calculated resistance at $65.89. These levels should also be evaluated when planning trades, as they provide an insight into the latest price action.
Traders wanting to establish a position on Accenture should look for evidence of buying near the 50 day moving average, and open this position as close as possible to this important level. Also, they need to consider the latest range defined by the peaks and troughs algorithm for insights on other key levels that might impact an upside or downside move.
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