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Advanced TA SearchArchive
- 4/5/2024 -
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Automatic Data Processing Inc. (ADP) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Automatic Data Processing Inc. (ADP). During the week, the ADP dropped -4.89 points, or -1.96%, and closed at 244.85 on Friday, April 5, 2024. Weekly volume was 11% above average.
ADP is a member of Information Technology Sector. Information Technology is the second most overbought sector. ADP is a member of Internet Services & Infrastructure Industry. Internet Services & Infrastructure is the sixth 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 206.01 and resistance is at 258.18. 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 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. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See ADP weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since January 19, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See ADP short-term trend chart]
A short-term uptrend had started on March 15, 2024 at 238.83 and reached 251.06 on March 28, 2024. ADP gained -12.23 points, or -5.12%, in 13 days. The price is now at the 50.78% retracement level.
Daily Technical Indicators: [See ADP daily technical indicators chart]
Daily technical indicators are neutral.
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 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. Such crossover is considered a bearish 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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