CHART OF THE WEEK - Accenture plc (ACN)

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DISCLAIMER: This chart is based on this date. I'm not suggesting a move up or down. I'm showing a chart I'm watching. I'm not recommending this stock as a purchase. Think of it like this, your showing the world thru my eyes and how I see this chart. Period!
CHART OF THE WEEK
Accenture plc	ACN		LAST TRADE >	$203.93
See Current Stock Price-ACN			POSTED ON	1/7/2020
See the World thru my eyes' - chart breakdown of the week
Accenture hits my radar this morning with the news they will acquire Symantec's enterprise cybersecurity services business from Broadcom. Accenture is an IT Services company and they seem to do this all the time ... which I'm guessing fuels its growth because this article says, although OVERVALUED now, its 2020 growth projection is +8% ... so let's see if by using our chart indicators of this is now trading at a LOW PURCHASE entry for a bit of value ... understand, that like MANY of the tech stocks, ACN has DOUBLED in the past year.
NEWS > Accenture Stock Falls On Cybersecurity Acquisition, Analyst Downgrade
RSI	SMA (100)	SMA (200)	KELT MID	OBV TREND
47.59	194.96	188.63	201.13	HIGHER
CLICK IMAGE TO SEE IT LARGER IN ITS OWN BROWSER WINDOW

What's the RSI telling me?
RSI - The RSI is between 40/50 which represents for me a stock that is 'for the most part' fairly valued with some good upside value if the markets are bullish
With ACN trading under 50 we start to get in that Fair Value area that I like ... its telling me that if ACN is a good company and things aren't hitting the fan (think Steve Wynn) then this is a good time to start watching and or picking up shares ...
Support Lines
SMA - When looking for a 'Low Entry' purchase we would love to BUY near the 100 day or 200 day support line. It's not 100% but its a 'Buy Low' situation vs 'Buying High'
ACN is not hitting the support lines yet so Im watching ... for me, its about the Keltnar Channels and if it dips under the MID line... then Im gonna be more Buy then Watch
Resistance Line (What Wall Street considers its Top of the Chart near term movement)
Finzin Chart shows a resistance line of ~$211x so in the near term this would be a Top and would not be considered a 'Low Entry' purchase for me.				See Resistance-ACN
Keltner Channel Breakdown
KC - The stock is trading UNDER the KC MID line which presents more of a 'Low Entry' purchase and now is the time for me to start watching the stock. I like buying for value UNDER the MIDline.
Looking for that MID line cross THEN Im thinking of buying ... its just how I see it :)
On Balance Volume or buying momentum ... is it trending Up?
OBV - The 'On Balance Volume' trend line is UP which tells technical traders that the stock has good momentum or in straight talk, people are BUYING IT. This is a 'Green' checkmark for me.
Its STILL trending higher so the momentum is good with ACN and I like this indicator.
Further research with - Using charts for technical analysis, Dividend information and Earnings Report Date
RSI, SUPPORT LINES		KELTNER, OBV
View Chart-ACN		View Chart-ACN
Definition of the various charting indicators I use
RSI - The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum oscillator that measures the speed and change of price movements. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. Source - https://www.investopedia.com/terms/r/rsi.asp
SMA (100/200) - A simple moving average (SMA) is an arithmetic moving average calculated by adding recent closing prices and then dividing that by the number of time periods in the calculation average. ... Short-term averages respond quickly to changes in the price of the underlying, while long-term averages are slow to react. Source - https://www.investopedia.com/terms/s/sma.asp
KC - The Keltner Channel is a moving average band indicator whose upper and lower bands adapt to changes in volatility by using the average true range. The Keltner Channel is used to signal possible price breakouts, show trend, and give overbought and oversold readings. Source - https://www.investopedia.com/terms/k/keltnerchannel.asp
OBV - On-balance volume (OBV) is a technical trading momentum indicator that uses volume flow to predict changes in stock price. ... He believed that when volume increases sharply without a significant change in the stock's price, the price will eventually jump upward or fall downward. Source - https://www.investopedia.com/terms/o/onbalancevolume.asp
Disclaimer - No - at the time of this posting I do not have a position in this equity. I will not take a position in this equity for 3 days of this equity as to not front run for this equity.
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