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Saturday, 24 May 2014

Accenture: 24 May 2014, Saturday, 1.22am Singapore Time

Accenture: 24 May 2014, Saturday, 1.22am Singapore Time
Chart courtesy of StockCharts.com

Attached above is the Technical Analysis of Accenture, a well known company and a component stock of the S&P500 (NYSE: ACN):
+Accenture is being deliberately suppressed by the 50DMA as above.
+ This suppression has a clear cut intention for break-downs as follow-up.
+ Big Hands and Smart Monies have been suppressing it close to the BLACK Support Trendline. 
+ This long term BLACK trendline will break down soon (change in long term trend).


Accenture: 24 May 2014, Saturday, 1.22am Singapore Time
Chart courtesy of StockCharts.com

+ Accenture: Signal of bear market transition intention in July 2013 (refer chart)
+ Huge unloads in July 2013
+ After that markets in the US spent half a year to mess up the chips 
+ This mess-up of chips misleads and confuses the public into believing a strong bull market is in place and is supported by rosy news as well as economic forecasts: nothing can go wrong, or so, hence the public buys into it.
+ Shorts are set up by smart monies at this point in time: these processes help facilitate shorts set up for the next 5 months from Jan 2014-May 2014
+ Re-distribution can hence be executed very smoothly above the Gap-up Support as above
+ Bearish Distribution Triangle forms
+ Dump-able opportunities presented on itself during good sentiments in April 2014
+ High volume opportunistic dumps executed in April 2014 by Smart Monies and Big Hands
+ Phantom buying/rebound carries on from April till now and only naive traders and investors are buying the markets now

Accenture: 24 May 2014, Saturday, 1.22am Singapore Time
Chart courtesy of StockCharts.com

+ Accenture is also executing a large island reversal which is very bearish in nature
+ Powerful Resistance is set up again during end-March and early-April 2014 gap down.
+ This powerful resistance is used as launchpad to suppress Accenture from now on: Bearish, Downtrend-forming and powerful

Accenture: 24 May 2014, Saturday, 1.22am Singapore Time
Chart courtesy of StockCharts.com

TRIANGULATION:

+ Maximum +10.000 FFA is completing and U-turning, and this had been the best performance that Accenture stock can offer. 
+ Resumption of sell-off will now proceed to do further damage.
+ Financial markets are transiting to bear markets as per warned in Daily Funds Flow Analysis (Refer RED BOX region in chart above).
+ Only fools'money are constantly looking for stocks and equities to buy when risks of downside always outweigh any upsides as previously warned; this is something that has been repeatedly warned for the past 6 months with my daily FFA Analysis.
+ This is yet another S&P500 stock that is transiting to long term bearishness

Donovan Norfolk Ang Technical Rating:
Highly Bearish
Short/Sell off

Related
The Great Capital Exodus from Worldwide Bank Stocks (2014)
http://donovan-ang.blogspot.sg/2014/02/ftse-st-financial-index-2-february-2014.html

RELATED: 
THE GREAT CAPITAL FLIGHT OUT OF EACH OF THESE BANK STOCKS
(Some are currently doing last ditch attempt to dead cat bounce and backtest critical support-turned-resistances)

RELATED: THE GREAT CAPITAL FLIGHT OUT OF EMERGING MARKETS:



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