InvestEmi

ACN | Very overbought and due for a drawback

NYSE:ACN   Accenture plc
ACN looks to have run really hot over the past few days.
RSI is overbought (78) and the stock is trading almost 20% premium to its 200-day MA.
It is also at the top of a rising wedge channel that it has been charting since March 2020.

The stock has many areas of support to trade down to, 280$ being the strongest of the lot. I would be adding significantly if it were to trade down to this level.
Interestingly Volume has remained significant despite the ATHs.

I keep loving this name for long-term investment purposes.

Any thoughts?
Thanks!
(*This is not financial advice, for sake of discussion and illustrative purposes only*)
Comment: I keep being pleasantly surprised by the resilience of this stock..
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