So, first off, ACN, look at this big beat on earnings. They had a nice uh double beat EPS as well as revenue, but the guidance was nice and pushed ACN over this key threshold highlighted by this dotted line across the the screen, which is the neckline of the inverse uh head and shoulders pattern, $197.98.
Great break and move higher. Now, the key for holding all of this is really to have another close above today's key breakout candle. That may be a big test considering we're selling off near the lows.
Now, one other way to play this. Now, that would be the most secure. All right, you want to see a price close above and then price clo comes back down by the level of support. I've gone through this on other charts showing we need to have a continued push.
That way, any drawbacks on the chart can hit this support and then potentially bounce up. Now, another way to look at this, if you want to be aggressive, not wait for that to occur, I just drew the fib retracement sequence and you can see right here at 20119 will be the first level of support.
We very well may not get back down here to the neckline on ACN. But it does have while price is above this neckline, the dotted line, it does have the potential for price to go to 27737.
This just isn't the most ideal setup. I would rather see price break in this range, put in another day up, then come back, give us our breakout, retrace bounce play, the the play that we talk about in here so very often.
And they can be done on inverse head and shoulders patterns.
