Decoding Accenture's Options Activity: What's the Big Picture?
Portfolio Pulse from Benzinga Insights
Recent options activity for Accenture (NYSE:ACN) indicates a mixed sentiment among big-money investors, with a slight lean towards bullishness. Benzinga's options scanner revealed 13 unusual trades, split between 53% bullish and 46% bearish. The trades focus on a price range of $180 to $375 for ACN, with significant options being both puts and calls. Accenture, a global IT-services firm, has seen its stock price slightly decrease by -1.29%, with an RSI indicating potential oversold conditions. Analysts have set an average price target of $400.2 for ACN, with varying ratings from major financial institutions.
March 25, 2024 | 5:31 pm
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Accenture's recent options activity shows a mixed sentiment but leans towards bullish, with analysts setting an average price target of $400.2. The stock is slightly down, indicating potential buying opportunities.
The mixed sentiment in options activity, combined with the slight decrease in stock price and the oversold RSI indicators, suggests a potential short-term recovery, especially with analysts maintaining high price targets. This scenario typically attracts investor interest, potentially driving the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100