Trading Report for Automatic Data Processing ADP With Buy and Sell Signals

June 10, 2021, 20:45 pm ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Automatic Data Processing (NYSE: ADP) while incorporating prudent risk controls. 

Warning: This is a static report, and the data was valid at the time of the publication, but support and resistance levels for ADP change over time, and the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions: The rules that govern the data in this report are the rules of Technical Analysis.  For example, if ADP is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

This data is further refined to differentiate trading plans for Day Trading ADP, Swing Trading ADP, and Long Term Investing plans for ADP too.

Technical Summary

Support and Resistance Plot Chart for ADP

Longer Term Trading Plans for ADP

June 10, 2021, 8:45 pm ET

Our Longer Term Plans for ADP help you determine where to buy, sell, short, and set risk controls. Use this in conjunction with our Longer Term Market Analysis to go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis and see how it helps you work with this ADP Report.

ADP - (Long) Support Plan

Buy over 193.17 target 205.56 stop loss @ 192.61

The technical summary data tells us to buy ADP near 193.17 with an upside target of 205.56. This data also tells us to set a stop loss @ 192.61 to protect against excessive loss in case the stock begins to move against the trade. 193.17 is the first level of support below 200.06 , and by rule, any test of support is a buy signal. In this case, support 193.17 is being tested, a buy signal would exist.

ADP - (Short) Resistance Plan

Short under 205.56, target 193.17, stop loss @ 206.15

The technical summary data is suggesting a short of ADP as it gets near 205.56 with a downside target of 193.17. We should have a stop loss in place at 206.15though. 205.56 is the first level of resistance above 200.06, and by rule, any test of resistance is a short signal. In this case, if resistance 205.56 is being tested, a short signal would exist.

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