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
Price<20
Price>200
Target $283
POSSIBLE PROBLEMS:
Shift in Demand:
There may be a shift in demand within the services offered by Accenture, with clients possibly prioritizing different areas of investment due to changing market conditions
Operational Challenges:
Any operational challenges or inefficiencies within Accenture could also lead to increased costs or reduced profitability, affecting share price
Strategic Investments and Acquisitions:
While Accenture has been active in acquisitions aimed at expanding its capabilities and market reach, the initial costs and integration challenges of these ventures could impact short-term financial performance, affecting investor perspectives
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
Price<20
Price>200
Target $283
POSSIBLE PROBLEMS:
Shift in Demand:
There may be a shift in demand within the services offered by Accenture, with clients possibly prioritizing different areas of investment due to changing market conditions
Operational Challenges:
Any operational challenges or inefficiencies within Accenture could also lead to increased costs or reduced profitability, affecting share price
Strategic Investments and Acquisitions:
While Accenture has been active in acquisitions aimed at expanding its capabilities and market reach, the initial costs and integration challenges of these ventures could impact short-term financial performance, affecting investor perspectives
✅ Facebook:
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
www.facebook.com/groups/matitrader
🌐Website:
www.timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)