Accenture bounces back, the decline still holds
Accenture rebounds 6.2%, but the decline still calls the shots
Accenture bounces back, the decline still holds
Our view last week
After last week's 6.5% rebound, Accenture shares gave back 1.5% this week, with the recovery attempt rejected right at its 7-day high. Our weekly technical analysis follows the sell signal into its 23rd week of management, with the short now more than 43% in profit: beneath the surface the decline keeps losing steam, momentum has improved for a third straight week and money flow stays positive, but the weekly structure is still broken and the technical picture remains negative.
This week's summary
Accenture tries another bounce — 6.2% this week — but the price slams right back into the wall that turned it away seven days ago: the 7-day high, in the 147 area. Beneath the surface, the fatigue keeps piling up — the RSI at a one-month high, momentum improving for a fourth straight week — yet the weekly structure is still broken. The Sell signal has now been under management for 24 weeks, with the short more than 40% in the money.
IQS Phase
61
ordinary
Signal Strength
2
decline fading out
Sizing
MINIMUM
Ranking
#116 / 140
US stocks
Trade P&L %
+40.33%
from signal to today
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