On Thursday, before market, Accenture (ACN) is anticipated to report fourth quarter EPS of $1.73 compared to $1.74 a year ago on revenue of approximately $10.9 billion vs. $11.1 billion last year. Accenture is a leading global professional services company and its expected move based on front-month options is 4.5%. The last time the company reported earnings it jumped 7.7%.
Looking at a daily chart, Accenture's stock price has been rising in an uptrend since mid-March. At the beginning of September price fell below its 20-day simple moving average (SMA) and the RSI also took a large dip with price. Currently price is holding below its 20-day SMA and above its 50-day SMA, and the RSI is chopping around the 50 level. The technical positioning of price and the RSI call for investors to be cautious because price could either continue its uptrend or start a new downtrend. If price can manage to hold above its 229.00 support level, then price will likely retest the all-time high of roughly 248.00. If price can break out above 248.00 it would be a bullish signal and price could potentially reach for its first Fibonacci target of 278.00. However, if price closes below its 229.00 support level it would be a bearish signal that could send price down to its second support at 220.00. If price cannot rebound off of its 220.00 level then it could lead to the beginning of a downtrend.
Source: GAIN Capital, TradingView
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
GAIN Capital Singapore Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the GAIN Capital group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), GAIN Capital Singapore Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact GAIN Capital Singapore Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither GAIN Capital Singapore Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
GAIN Capital Singapore Pte. Ltd. is not under any obligation to update this report.
Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit cityindex.com.sg for the complete Risk Disclosure Statement.
Cryptocurrencies are not legal tender currency and trading of derivatives on Cryptocurrencies are currently not covered under any regulatory regime in Singapore. Consequently, investors should be aware they do not have protection under the Securities and Futures Act (Cap. 289). Please ensure that you are fully aware of the risks.