The Greedy Trader Weekly Analysis
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Weekly W%R:> 90
Number of records: 7
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Williams' Percentage Range (W%R)

Williams' %R is an effective momentum indicator that measures overbought/oversold levels. Like other indicators, W%R ranges between 0% and 100% , but in opposite to the other indicators, the 0% indicating overbought and 100% - the oversold stocks. W%R measures the closing price in relation to the recent low/high range. A bullish signal is generated when the W%R has reached 100, five time bars have elapsed, and the W%R has subsequently fallen to 95. A reverse signal is considered as bearish. For the sake of simplicity, the W%R closed above 10% is considered bearish and below 90% - bullish. In trending markets, the W%R stays at one end of the scale and gives false signals to trade against the trend. That is why W%R is not considered a stand-along technique, and it is essential to use it with some sort of trend formation indicators. The divergence between price and W%R rarely occurs and presents an important buy/sell signal. As our research shows, the W%R move to upper or lower bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.

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- 5/17/2024 -
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Automatic Data Processing Inc. (ADP) Technical Analysis

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Summary:
Weekly :
Daily :The price has risen above the Parabolic SARThe price is above the upper Bollinger Band20 Day Moving Average has crossed above the 50 Day Moving Average
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It was a second positive week after 5 consecutive negative weeks for the Automatic Data Processing Inc. (ADP). During the week, the ADP gained 5.47 points, or 2.22%, and closed at 252.33 on Friday, May 17, 2024. It was the best weekly gain since March 22, 2024. Weekly volume was -32% below average.

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 price is now at the 8.14% retracement level.

Medium-term trend: [See ADP medium-term trend chart]
A medium-term uptrend had started on March 15, 2024 at 238.83 and reached 253.72 on May 1, 2024. ADP gained -14.89 points, or -6.23%, in 6 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 239.57 and resistance is at 255.11. 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 Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern 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 April 12, 2024. 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 uptrend had started on May 3, 2024 at 239.32 and reached 252.39 on May 17, 2024. ADP gained -13.07 points, or -5.46%, in 14 days. The chart has formed a Broadening Ascending Wedge chart pattern.

Daily Technical Indicators: [See ADP daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since May 8, 2024. This is an indication that the short-term trend is up.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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 20 Day Moving Average 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.96
Williams' Percentage Range (W%R) 25.40
Lane's Stochastic (%D-Slow) 76.89
Greed/Fear Indicator (GFI) 71.48
Moving Average Converg./Diverg. (MACD) 0.22
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.57
Williams' Percentage Range (W%R) 24.90
Lane's Stochastic (%D-Slow) 39.49
Greed/Fear Indicator (GFI) 54.51
Moving Average Converg./Diverg. (MACD) 2.72
Trading Signals
Description Value Chart
Weekly Trendline Resistance 255.11
Price 252.33
Upper Bollinger Band 251.52
Daily Stochastic Crossing 250.30
20 Day Moving Average 245.57
Weekly Stochastic Crossing 245.52
50 Day Moving Average 245.23
Lower Bollinger Band 240.78
Parabolic System 240.68
Weekly Trendline Support 239.57
Sector and Industry
Description Name Rank
Sector Information Technology 4
Industry Internet Services & Infrastructure 16
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 239.32
Low Date 05/03/2024
High 252.39
High Date 05/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Valid
Resistance 255.11
Support 239.57
Low 238.83
Low Date 03/15/2024
High 253.72
High Date 05/01/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 205.53
Low Date 11/01/2023
High 256.57
High Date 02/26/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 201.46
Low Date 04/26/2023
High 256.84
High Date 07/27/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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.