Accenture Ltd. (ACN) Technical Analysis

Today we'll analyze the Stock ACN for online market trading,
Technical indicators to notice:
1- Last bullish trend was from 35.17$ (03/31/08) to 38.07$ (04/10/08) a 2.90$ move
2- The current bearish trend started from 38.07$ at 04/10/08 and is currently trading at 37.59$.

3- The stock current support level is at 37.39 which is the 23.60% fibonacci retracement of the last 2.90$ move.
4- The stock current resistance level is at 38.07 which is the 0.00% fibonacci retracement of the last 2.90$ move.
5- According to ADX, the trend is currently bullish, which is getting stronger.furthermore, the ADX location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
Short term chart patterns :

6- The Stock traded in a bullish channel identifed by support at 35.17 and 33, resistance between 38.07 and 36.31, the channel is currently supported from below by 37.03 and resisted from above by 38.6115.
Mid term chart patterns :

7- The Stock formed a 5.26$ height triangle which was broken up at 36.77, target of the pattern is 42.03.
Long term chart patterns :

8- The Stock formed a 5.26$ height triangle which was broken up at 36.77, target of the pattern is 42.03.

Conclusion:
ACN was trading in a bullish wave, which is becoming stronger .
Technical indicators and chart patterns show highly volatile movements favoriting bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles.
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Resistance Levels: 37.70, 37.77, 37.83, 37.89, 38.07, 42.03,.
Support Levels: 37.39, 36.96, 36.62, 36.28, 36.26, 35.17, 35.06, 34.94, 34.81, 34.69, 34.38,.