NEW YORK (TheStreet) -- Accenture(ACN) - Get Report shares have been on an upward run, and technical analysis shows it could continue. Right now is a good time to buy.

The stock started its current upward trend on Oct. 15, 2014 and since then, the trend line is working properly, as is the 50-day moving average.

A moving average is the is the average price that the stock has had over a certain number of trading sessions. The 50-day is considered a good support level (if the price fluctuates above it without crossing) or resistance level (if the price fluctuates below it without crossing).

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After Oct. 15, 2014, when Accenture's price touched $73, the stock rose 37% to an all-time high of $100.47 on June 25. Shares closed Wednesday at $97.65.

The price at about $95 formed a good support level. At point "A" in the chart above, the stock did a try to break through the resistance level (marked by the horizontal blue line) but got rejected and started to fluctuate below the resistance level in the area near point "B". At point "C" the price crossed the resistance line, and at point  "D" the price fell back to to test that level as support. Technically this is called a pullback and it happens when the price comes back to what previously was a resistance level and makes it a support level.

Once the pullback was finished after three to four days, bulls started again to push the price up. Over the past four days, the price went much closer to the upward trend line (the diagonal blue line) to test it.

This is a good moment to buy. Since the price is much closer to the trend line, any strong movement below will force a trader to close the position with a very small loss. But if the upward trend is confirmed, the price will continue rising to new all-time highs.

If you are looking for a long-term investment, this is a good one. The company is giving good returns to its shareholders. Since 2005 it has also paid a dividend (the yield is now 2.10%) that has a very strong growth rate (up 27.40% over the last three years and up 25.90% over the last five years).

This stock is No. 1 on The Extra Income's watching list.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.