Accenture is trading in a bullish trend and several arguments argue for the continuation of this trend.

The company’s fundamentals are still strong. Sales are projected to be up 4.4% for 2013. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates. The last EPS was at USD 3.84. Finally, the group has a healthy treasury with a positive treasury at USD 6.6 billion for 2013.

Technical patterns are in the green : prices are up for several months. The movement should continue in the coming trading sessions to break out the USD 83 short term resistance. The 20-day moving average should help to reach the USD 94.85 long term resistance and thus, exit of the bullish trend line.

According to both technical and fundamental elements, it seems opportune to take a long position above the USD 83 prices. The bullish trend should allow the security to reach the USD 94.85 resistance. If the stock crosses it, a new target price will be set. A stop loss will be placed under the USD 78.8 short term support to avoid a downtrend.