Head and Shoulders seems to be forming on Accenture.
This pattern started on 11 December 2023, the price headed to a high at $386.00 and right back down again.
Now it has reached some semblance of support but could be forming a right shoulder.
If we see a price break, then it is likely for the market to drop all the way down to $283.
Medium Probability...
As the Dublin-based global tech services and consulting firm grapples with shifting tides, its recent fiscal second-quarter earnings report has left investors on edge. Despite beating estimates, Accenture's decision to revise its full fiscal year revenue outlook downwards has sent shockwaves through the market, prompting a sharp decline in Accenture ( NYSE:ACN )...
If you haven`t sold ACN here:
Then analyzing the options chain and the chart patterns of ACN Accenture plc prior to the earnings report this week,
I would consider purchasing the 315.50usd strike price Calls with
an expiration date of 2023-10-20,
for a premium of approximately $9.10.
If these options prove to be profitable prior to the earnings release, I would...
The downtrend is more likely to continue for Accenture plc. The next stop is located at the $292 support level. Breakout will trigger new sales to the next major support at $ 277.
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