Accenture

ACN
Real-time BATS EXCHANGE - 05/21 04:00:01 pm
179.685USD
+0.55%

The stock approaches again the support level

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David Meurisse
Contributor / Partner

Strategy published on : 05/13/2019 | 11:38

long trade on a pullback
Conditional Order Terminated

Entry price : 165.1$
Target : 177.7$
Stop-loss : 157.5$
Cancellation Level : 175$
Potential : 7.63%

Shares in Accenture are retreating towards the lower bound of a horizontal trading range. Investors could use the proximity of this support area to initiate new long positions.
Investors should buy the stock at current prices near $ 165.1 in order to target the $ 177.7.

Summary

● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.

● The company has solid fundamentals for a short-term investment strategy.


Strengths

● The company returns high margins, thereby supporting business profitability.

● The company is in a robust financial situation considering its net cash and margin position.

● There is high visibility into the group's activities for the coming years. Outlooks on future revenues from analysts covering the equity remain similar. Such hardly dispersed estimates support highly predictable sales for the current and upcoming fiscal years.

● The group usually releases upbeat results with huge surprise rates.

● Analysts have a positive opinion on this stock. Average consensus recommends overweighting or purchasing the stock.

● The tendency within the weekly time frame is positive above the technical support level at 156.93 USD


Weaknesses

● The share is close to its long-term resistance in weekly data. Therefore, the potential should be limited. However, a further bullish movement when crossing this resistance will be a positive signal.

● The firm trades with high earnings multiples: 23.83 times its 2019 earnings per share.

Zonebourse.com 2019
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