So, what’s Big Money? Said simply, that’s when a stock goes up in price alongside chunky volumes. It’s indicative of institutions betting on the shares.
Smart money managers are always looking for the next hot stock. And Accenture has many fundamental qualities that are attractive.
This sets up well for the stock going forward. But how the shares have been trading points to more upside. As I’ll show you, the Big Money has been consistent in the shares all year.
You see, fund managers are always looking to bet on the next outlier stocks…the best in class. They spend countless hours sizing up companies, reading reports, speaking to analysts…you name it. When they find a company firing on all cylinders, they pounce in a big way.
That’s why I’ve learned how critical it is to gauge Big Money demand for shares. To show you what I mean, have a look at all the big money signals ACN has made the last year.
The last few weeks have seen Big Money activity, too. Each green bar signals big trading volumes as the stock ramped in price:
In 2021, the stock has attracted 19 Big Money buy signals. Generally speaking, recent green bars could mean more upside is ahead.
Now, let’s check out technical action grabbing my attention:
Outperformance is important for leading stocks.
Next, it’s a good idea to check under the hood. Meaning, I want to make sure the fundamental story is strong too. As you can see, Accenture has been growing sales at a double-digit rate. Take a look:
Marrying great fundamentals with technically superior stocks is a winning recipe over the long-term.
In fact, ACN has been a top-rated stock at my research firm, MAPsignals, for years. That means the stock saw buy pressure, strong technicals, and growing fundamentals. We have a ranking process that showcases stocks like this on a weekly basis.
ACN has a lot of qualities that are attracting Big Money. And since 2015, it’s made this list 14 times, with its first appearance on 10/27/2015… and gaining 242.81% since. The blue bars below show the times that Accenture was a top pick since 2015:
It’s been a top stock in the technology sector according to the MAPsignals process. I wouldn’t be surprised if ACN makes additional appearances in the years to come. Let’s tie this all together.
The Bottom Line
Accenture rally could have further to go. Big money buying in the shares is signaling to take notice. Shares could be positioned for further upside. Given the historical gains in share price and strong fundamentals, this stock could be worth a spot in a growth-oriented portfolio.
Disclosure: the author holds no positions in ACN in personal or managed accounts at the time of publication.
Learn more about the MAPsignals process here.
This article was originally posted on FX Empire