Thursday, March 28, 2019 1:29:47 PM
Shares of Accenture PLC (ACN) surged higher this morning, hitting a new all-time high at $177.49. This surge higher is significant as price tagged and briefly crossed an epic double top from September 2017. Today's surge followed a vertical run in the stock of 34% from the December 2018 lows. With multiple overbought indicators flashing sell and an epic double top, pro traders are looking to short Accenture. They expect a classic pull back off double top to a pivot of $165.50 in the next week or two. Further out, a drop to $150 is likely. This is a classic technical trade setup for swing traders.
Gareth Soloway
InTheMoneyStocks
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