Automatic Data Processing $ADP Technical Update – Stock Traders Daily

This post was originally published on this site

Automatic Data Processing $ADP Technical Update

The Automatic Data Processing (NYSE: ADP) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for ADP, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.

Review the Trading Plans:

Technical Summary

Term → Near Mid Long
Bias Strong Neutral Neutral
P1 150.10 145.69 138.42
P2 150.82 150.88 148.41
P3 153.52 155.46 157.99

Long Term Trading Plans for ADP

October 4, 2018, 4:30 am ET

The Technical Summary and Trading Plans for ADP help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this ADP Report.

ADP – (Long) Support Plan

Buy over 148.41 target 157.99 stop loss @ 148.15.
The technical summary data tells us to buy ADP near 148.41 with an upside target of 157.99. This data also tells us to set a stop loss @ 148.15 to protect against excessive loss in case the stock begins to move against the trade. 148.41 is the first level of support below 151.77 , and by rule, any test of support is a buy signal. In this case, support 148.41 is being tested, a buy signal would exist.

ADP – (Short) Resistance Plan

Short under 157.99 target 148.41 stop loss @ 158.25
The technical summary data is suggesting a short of ADP as it gets near 157.99 with a downside target of 148.41. We should have a stop loss in place at 158.25 though. 157.99 is the first level of resistance above 151.77, and by rule, any test of resistance is a short signal. In this case, if resistance 157.99 is being tested, a short signal would exist.

This post was originally published on *this site*