When the Price of (ADP) Talks, People Listen

March 19, 2024, 11:20 am ET, BY James G.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for ADP

• Buy ADP slightly over 231.78 target 246.66 stop loss @ 231.11 Details

The technical summary data tells us to buy ADP near 231.78 with an upside target of 246.66. This data also tells us to set a stop loss @ 231.11 to protect against excessive loss in case the stock begins to move against the trade. 231.78 is the first level of support below 242.675 , and by rule, any test of support is a buy signal. In this case, support 231.78 would be being tested, so a buy signal would exist.

• Short ADP slightly under 246.66, target 231.78, stop loss @ 247.37 Details

The technical summary data is suggesting a short of ADP as it gets near 246.66 with a downside target of 231.78. We should have a stop loss in place at 247.37though. 246.66 is the first level of resistance above 242.675, and by rule, any test of resistance is a short signal. In this case, if resistance 246.66 is being tested, so a short signal would exist.

Swing Trading Plans for ADP

• Buy ADP slightly over 244.43, target 246.66, Stop Loss @ 243.72 Details

If 244.43 begins to break higher, the technical summary data tells us to buy ADP just slightly over 244.43, with an upside target of 246.66. The data also tells us to set a stop loss @ 243.72 in case the stock turns against the trade. 244.43 is the first level of resistance above 242.675, and by rule, any break above resistance is a buy signal. In this case, 244.43, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ADP slightly near 244.43, target 240.31, Stop Loss @ 245.14. Details

The technical summary data is suggesting a short of ADP if it tests 244.43 with a downside target of 240.31. We should have a stop loss in place at 245.14 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 244.43, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for ADP

• Buy ADP slightly over 243.12, target 244.43, Stop Loss @ 242.55 Details

If 243.12 begins to break higher, the technical summary data tells us to buy ADP just slightly over 243.12, with an upside target of 244.43. The data also tells us to set a stop loss @ 242.55 in case the stock turns against the trade. 243.12 is the first level of resistance above 242.675, and by rule, any break above resistance is a buy signal. In this case, 243.12, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ADP slightly near 243.12, target 240.31, Stop Loss @ 243.69. Details

The technical summary data is suggesting a short of ADP if it tests 243.12 with a downside target of 240.31. We should have a stop loss in place at 243.69 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 243.12, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Automatic Data Processing Inc. (ADP) available here: ADP.

ADP Ratings for March 19:

Term →	Near	Mid	Long
Rating	Neutral	Weak	Strong
P1	0	0	231.78
P2	240.22	240.31	246.66
P3	243.12	244.43	260.91

AI Generated Signals for ADP

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This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Automatic Data Processing Inc. (NYSE: ADP) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for ADP can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.