Mar 23, 2021 (Stock Traders Daily via COMTEX) -- This price action in Automatic Data Processing /zigman2/quotes/207661132/composite ADP -2.10% can help investors find opportunity, and manage risk. Stock Traders Daily has demonstrated that in this article. Review The plans for ADP below, and you will see how this works. Keep in mind, this data is current, but it is not real time. If you want a real time updates, or data on 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 175.82 with an upside target of 187.42. This data also tells us to set a stop loss @ 175.31 to protect against excessive loss in case the stock begins to move against the trade. 175.82 is the first level of support below 184.04 , and by rule, any test of support is a buy signal. In this case, support 175.82 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of ADP as it gets near 187.42 with a downside target of 175.82. We should have a stop loss in place at 187.96though. 187.42 is the first level of resistance above 184.04, and by rule, any test of resistance is a short signal. In this case, if resistance 187.42 is being tested, a short signal would exist.
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