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Advanced TA SearchArchive - 3/8/2024 - Sign In to see current Signals. |
Automatic Data Processing Inc. (ADP) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the Automatic Data Processing Inc. (ADP). During the week, the ADP dropped -7.29 points, or -2.92%, and closed at 242.40 on Friday, March 8, 2024. It was the worst weekly loss since October 27, 2023. Weekly volume was 51% above average. ADP is a member of Information Technology Sector. Information Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See ADP long-term trend chart] A long-term uptrend had started on April 26, 2023 at 201.46 and reached 256.84 on July 27, 2023. ADP gained -55.38 points, or -27.49%, in 13 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level. Medium-term trend: [See ADP medium-term trend chart] A medium-term uptrend had started on November 1, 2023 at 205.53 and reached 256.57 on February 26, 2024. ADP gained -51.04 points, or -24.83%, in 16 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (259.20) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ADP may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend. Weekly Technical Indicators: [See ADP weekly technical indicators chart] Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help. The weekly MACD line is above its signal line since January 19, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help. Short-term trend: [See ADP short-term trend chart] A short-term downtrend had started on February 26, 2024 at 256.57 and reached 241.50 on March 8, 2024. ADP lost 15.07 points, or 5.87%, in 11 days. The price is now at the 5.97% retracement level. Daily Technical Indicators: [See ADP daily technical indicators chart] Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help. The daily MACD line is below its signal line since February 26, 2024. This is an indication that the short-term trend is down. During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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