DE-RISK MEASURED: Trim 20-25% (not 30-40%), anchor residual stop at $185, maintain 2-3% core position, avoid full liquidation

• FCF yield of 10% attributed to repricing duration downward due to elevated rates, not business decay; ACN has navigated every technology shift for 30 years with mid-to-high single-digit revenue compounding
• ACN's own research shows only one in five dollars of enterprise token spend is tied to tangible outcomes, expanding ACN's advisory services addressable market
• Proposed trim of 20-25% vs aggressive's 30-40%; residual position left exposed to ~$20 downside on a stock with ATR of $7 means 2-3 ATR pullback triggers stop at $175
• Recommended trailing stop anchored at $185 (10 EMA) rather than $175 to avoid whipsaw; goal is harvest gains without engineering forced exit
• MACD signals unreliable after 22.7% single-day dislocation; RSI hit 70 twice in recovery and both times consolidated rather than reversed; MACD looked exhausted late August yet price pushed to new local high
• Macro framing argues for patience: ACN has 3.55% dividend yield, net cash balance sheet, low beta—money rotates into this franchise during growth-scare selloffs
• Google Cloud partnership (training 1,000 forward-deployed engineers on Gemini Enterprise) is a capability moat positioning ACN as system integrator for enterprise AI, not a defensive press release
• Core position of 2-3% (vs aggressive's 1-2%) preserves participation if macro tape rolls over and money rotates into dividend-paying quality compounders; booking slips into FY27 are noise vs structural AI services signal

→ vs aggressive: FCF yield of 10% is not evidence of melting cash flows but repricing duration due to elevated rates; fortress balance sheet with net cash supports the yield, not business decay

→ vs aggressive: Trim of 30-40% with stop at $175 leaves residual 60-70% position exposed to ~$20 swing on $7 ATR stock; normal 2-3 ATR pullback triggers stop, forcing exit at worst moment and chasing name back higher on mean reversion

→ vs aggressive: MACD bearish crossovers unreliable after 22.7% single-day dislocation; indicators operating in broken tape with degraded signal reliability, not normal regime

→ vs aggressive: Macro framing (10-year at 5%) argues for patience, not aggression; rate-driven selloffs historically rotate money INTO quality compounders like ACN with 3.55% dividend and low beta

→ vs aggressive: Google Cloud partnership is offensive capability moat (1,000 engineers on Gemini), not defensive; bookings into FY27 are noise, structural AI services opportunity is the signal

Trim 25-30% at $195 into 200 SMA test; anchor stop at $180; hold 1.5-2% core portfolio position; set re-entry triggers at $199 daily close breakout with volume above 7M shares OR pullback to $183-185 zone

• Trim 25-30% at $195 into the 200 SMA test, harvesting material gains while leaving core exposure
• Anchor residual stop at $180 (approximately 2.5 ATR from current price), not $175 or $185
• Target 1.5-2% of portfolio for residual position post-trim
• Re-entry triggers: confirmed daily close above $199 with volume above 7M shares, OR pullback to $183-185 zone where 10 EMA and consolidation support converge
• Macro is headwind to re-rating but not to holding; ACN's quality profile gives relative defensive characteristics vs. mega-cap tech
• Aggressive analyst's 30-40% trim is too aggressive given offsetting value case; conservative analyst's 20-25% is too light given 67% rally from lows and technical concerns
• 200 SMA at $198.54 is real resistance; MACD bearish crossover plus bearish divergence plus third push without clean break historically resolves with 5-10% pullback ~70% of the time

→ vs aggressive: Treats AI substitution thesis as binary when historical record overwhelmingly shows services expansion during platform shifts, not contraction

→ vs aggressive: Macro framing partially contradicts itself; rate spikes historically rotate INTO quality compounders like ACN with strong balance sheets and dividend yields

→ vs aggressive: R/R geometry ignores positive carry: 3.55% dividend yield plus buyback support means residual position has asymmetric upside

→ vs conservative: Technical signals carry informational content; broken tape doesn't make indicators useless, MACD bearish crossover plus divergence plus third push into 200 SMA resistance has 70% historical resolution rate across all regimes

→ vs conservative: $185 stop placement is too tight (aligned with 10 EMA), virtually guaranteeing exit on any meaningful retracement; this is not actually conservative risk management

→ vs conservative: $175 stop is too wide, leaving capital unnecessarily exposed given support structure at $185 and $180