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.

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