The Greedy Trader Weekly Analysis
Sign In Jun 2, 2023
Skip Navigation Links
Number of records: 10
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

Automatic Data Processing Inc. (ADP)

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Overbought sectorBroken trend support line
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARBearish Downside Tasuki Gap CandlestickWilliams' Percentage Range is oversoldMACD bullish divergencePrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger BandsThe Bollinger Bands are historically close together
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 -3.70 points, or -1.71%, and closed at 212.48 on Friday, May 26, 2023. ADP was trading at average weekly trading volume.

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 May 6, 2010 at 26.46 and reached 274.92 on December 13, 2022. ADP gained -248.46 points, or -939.00%, in 657 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 125.00 and resistance is at 277.60. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See ADP medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 103.11 and reached 274.92 on December 13, 2022. ADP gained -171.81 points, or -166.63%, in 142 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (249.69) 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 technical indicators are neutral.

The weekly MACD line is below its signal line since December 23, 2022. The distance between MACD and the signal line is low and getting smaller. 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 19, 2023 at 217.54 and reached 208.81 on May 25, 2023. ADP lost 8.73 points, or 4.01%, in 6 days. The price is now at the 42.04% retracement level.

Daily Technical Indicators: [See ADP daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 Williams' Percentage Range help.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (4.46%) is close to one year low (4.19%). It is 55.76% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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 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.

Candlestick pattern: [See ADP candlestick chart pattern]
On Friday the chart has formed a Bearish Downside Tasuki Gap Candlestick pattern. This is a rare continuation formation that appears in a strongly downward moving market. The reliability of the Bearish Downside Tasuki Gap pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Downside Tasuki Gap Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.58
Williams' Percentage Range (W%R) 81.10
Oversold
Lane's Stochastic (%D-Slow) 54.50
Greed/Fear Indicator (GFI) 40.00
Moving Average Converg./Diverg. (MACD) -0.60 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 35.98
Williams' Percentage Range (W%R) 78.00
Lane's Stochastic (%D-Slow) 54.53
Greed/Fear Indicator (GFI) 40.76
Moving Average Converg./Diverg. (MACD) -5.21
Trading Signals
Description Value Chart
Quarterly Trendline Support 249.69
Upper Bollinger Band 219.07
Parabolic System 217.58
50 Day Moving Average 215.28
20 Day Moving Average 214.48
Weekly Stochastic Crossing 213.76
Daily Stochastic Crossing 212.84
Price 212.48
Lower Bollinger Band 209.58
Sector and Industry
Description Name Rank
Sector Information Technology 12
Industry Internet Services & Infrastructure 110
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 217.54
High Date 05/19/2023
Low 208.81
Low Date 05/25/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 222.55
High Date 05/01/2023
Low 208.81
Low Date 05/25/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 274.92
High Date 12/13/2022
Low 201.46
Low Date 04/26/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 287.09
Support 249.69
Low 103.11
Low Date 03/18/2020
High 274.92
High Date 12/13/2022
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 277.60
Support 125.00
Low 26.46
Low Date 05/06/2010
High 274.92
High Date 12/13/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

Copyright© 2004- All rights reserved.