Accenture Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Significant bearish options activity has been observed in Accenture (NYSE:ACN), with 50% of large-scale traders taking bearish positions. This unusual activity suggests potential foreknowledge of upcoming events. The trading volume for ACN is down by 0.67%, and the stock is approaching overbought territory. An analyst from UBS has upgraded the stock to Buy with a price target of $400.
July 26, 2024 | 7:01 pm
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Accenture has seen unusual bearish options activity, with 50% of large-scale traders taking bearish positions. The stock is down 0.67% and approaching overbought territory. UBS has upgraded the stock to Buy with a $400 price target.
The significant bearish options activity suggests that large investors may have foreknowledge of negative upcoming events. This, combined with the stock's current overbought status, indicates a potential short-term decline. However, the UBS upgrade to Buy with a $400 target provides a mixed signal, slightly mitigating the bearish outlook.
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