The “Chart of the Day” is Accenture Plc (ACN), which showed up on last Friday’s “NYSE 12-month High” list and the “Gap Up” list. Accenture last Friday rallied sharply by 4.45% and posted a new record high. Accenture last Friday announced that it reached a new agreement with the UK government that reaffirmed existing work and identified how efficiencies can be achieved in any future work. Wells Fargo last Friday upgraded Accenture to Outperform from Market Perform and raised its target to $51-53 from $41-44, although Kaufman Brothers last Friday said that the Accenture’s growth guidance for the November quarter was unimpressive and maintained its Sell rating on the stock. Accenture last Thursday (1) reported Q4 EPS at 66 cents versus the consensus of 63 cents, (2) raised its semi-annual cash dividend to 45 cents, (3) provided Q1 revenue guidance of $5.6-5.8 billion that was higher than the consensus of $5.62 billion, and (4) provided FY2011 EPS guidance of $3.00-3.08 that was higher than the consensus of $2.92. Accenture, with a market cap of $27 billion, is one of the world’s largest management consulting, technology services and outsourcing organizations.
How we found the Chart of the Day:
We found the “Chart of the Day” by scanning the Barchart “New Highs/Lows” page. Then we clicked on the entry for NYSE 12-month highs. A new 12-month high is a popular sign of upside momentum. Then we applied a “Custom View” heading with the Barchart Opinion ranking as one of the columns. we then sorted the list by the Barchart Opinion ranking in order to find the stocks with the highest Opinion.
Barchart’s Opinion trading systems are all a Buy and Barchart’s daily Trendspotter(tm) trading system is a “Buy.” Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
- Trendspotter: Buy
- Short-Term Indicators: 100% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 100% Buy
Chart of the Day provided by www.Barchart.com.
