Trading Idea: - Is Accenture close to Resistance?
Published on Tuesday, 05 March 2013 08:56 Written by TradersHuddle Wire
New York, March 5th (TradersHuddle.com) - Shares of Accenture PLC (NYSE:ACN) are trading very close to calculated resistance at $75.97. The stock ended the trading session at just $75.24, which is near levels that make it difficult to buy or start a position.
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.
Accenture's stock range is defined by its calculated support defined at $65.20 and by the resistance level at $75.97; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.
Traders don't have a clear entry point for Accenture. However, as the stock pulls back towards $65.20 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $75.97 then traders will get an opportunity to enter the stock as it moves to a higher range.
- QIAGEN Short term Bullish Reversal
- QIAGEN Stalling at Resistance
- Bulls and Bears on the Trenches of QIAGEN
- Bulls taking Control of QIAGEN?
- Is QIAGEN Trade Over?
- QIAGEN: Waiting for Direction
- NASDAQ 100 Top Performer: First Solar
- NASDAQ 100 Top Performer: Applied Materials
- QIAGEN - Shares Seeking Direction
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines