Apr 11, 2021 (Stock Traders Daily via COMTEX) -- No matter what industry we are talking about, political decisions, and policy changes can affect the price of the stocks in that industry, and Automatic Data Processing /zigman2/quotes/207661132/composite ADP -0.22% is not an exception. ADP like every other company, it will experience ebbs and flows based on this type of news too, so it is important for us to pay attention. The good news is, Wall Street usually prices in events like this before they happen. The Stock Market is an exceptional forecasting tool, so if we pay attention to price we can often determine what will happen before it happens. That is exactly what we attempt to do using the price data below. This data changes over time, so we suggest updating the data for the most actionable results. For an update, please request 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 179.16 with an upside target of 191.63. This data also tells us to set a stop loss @ 178.64 to protect against excessive loss in case the stock begins to move against the trade. 179.16 is the first level of support below 189.44 , and by rule, any test of support is a buy signal. In this case, support 179.16 is being tested, a buy signal would exist.
The technical summary data is suggesting a short of ADP as it gets near 191.63 with a downside target of 179.16. We should have a stop loss in place at 192.18though. 191.63 is the first level of resistance above 189.44, and by rule, any test of resistance is a short signal. In this case, if resistance 191.63 is being tested, a short signal would exist.
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