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Advanced TA SearchArchive
- 5/10/2024 -
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Automatic Data Processing Inc. (ADP) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 5 consecutive negative weeks for the Automatic Data Processing Inc. (ADP). During the week, the ADP gained 4.97 points, or 2.05%, and closed at 246.86 on Friday, May 10, 2024. It was the best weekly gain since March 22, 2024. Weekly volume was -37% below average.
ADP is a member of Internet Services & Infrastructure Industry. Internet Services & Infrastructure is the ninth most oversold industry. 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. The chart has formed a Rectangle chart pattern. The trend support level is at 206.37 and resistance is at 258.55. A rectangle chart pattern is characterized as a short-term horizontal channel and represents a trading range and indecision area that is usually resolves in the direction of the main trend. Chart analysis usually considers a rectangle pattern a continuation formation, but it can also mark significant top and bottom. A rectangle pattern within younger parent trend has more chances to mark a continuation. Use the following link to access a Rectangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rectangle pattern in a long-term trend.
 Medium-term trend: [See ADP medium-term trend chart]
A medium-term downtrend had started on February 26, 2024 at 256.57 and reached 238.83 on March 15, 2024. ADP lost 17.74 points, or 6.91%, in 2 weeks. The price is now at the 45.26% retracement level.
 Weekly Technical Indicators: [See ADP weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 12, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 May 1, 2024 at 253.72 and reached 239.32 on May 3, 2024. ADP lost 14.40 points, or 5.68%, in 2 days. The chart has formed a Symmetric Triangle chart pattern.
Daily Technical Indicators: [See ADP daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 3% on Friday. It is 58.05% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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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