Mar 14, 2021 (Stock Traders Daily via COMTEX) -- According to Stock Traders Daily, a 2-year industry veteran, investors can use the price action in Automatic Data Processing /zigman2/quotes/207661132/composite ADP -0.0026% to foretell upcoming changes. A current example is provided below. There are trading plans for ADP, but the data on this page does not update in real time. If you want a real time update, or a different stock, please get one here Unlimited Real Time Reports .
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.
The technical summary data tells us to buy ADP near 172.72 with an upside target of 183.92. This data also tells us to set a stop loss @ 172.22 to protect against excessive loss in case the stock begins to move against the trade. 172.72 is the first level of support below 182.77 , and by rule, any test of support is a buy signal. In this case, support 172.72 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of ADP as it gets near 183.92 with a downside target of 172.72. We should have a stop loss in place at 184.45though. 183.92 is the first level of resistance above 182.77, and by rule, any test of resistance is a short signal. In this case, if resistance 183.92 is being tested, a short signal would exist.
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