Accenture Is Near a Key Resistance Area

New York, April 29th (TradersHuddle.com) - Shares of Accenture PLC (NYSE:ACN) are trading very close to calculated resistance at $79.66. The stock ended the trading session at just $78.66, 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 $72.42 and by the resistance level at $79.66; 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 $72.42 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $79.66 then traders will get an opportunity to enter the stock as it moves to a higher range.

Technical Scans

Stock Market

Loading
Chart
o Dow Jones 17,672.60 ▼141.38 (-0.79%)
o S&P 500 2,051.82 ▼11.33 (-0.55%)
o NASDAQ 4,757.88 ▲7.48 (0.16%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,672.60 Trade time:4:29PM EST Value change:▼141.38 (-0.79%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,051.82 Trade time:4:29PM EST Value change:▼11.33 (-0.55%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,757.88 Trade time:5:15PM EST Value change:▲7.48 (0.16%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.