Automatic Data Processing Stock Forecast
Automatic Data Processing stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Dec 01, 2023)
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The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $235.44 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -10.25% during the next 3 months and, with a 90% probability hold a price between $180.62 and $211.30 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
ADP Signals & Forecast
Mostly positive signals in the chart today. The Automatic Data Processing stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $230.28 and $229.80. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, November 01, 2023, and so far it has risen 10.73%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Thursday, June 29, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, June 29, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Automatic Data Processing stock
Automatic Data Processing finds support from accumulated volume at $229.92 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $4.08 between high and low, or 1.78%. For the last week the stock has had daily average volatility of 1.12%.
Our recommended stop-loss: $221.28 (-5.01%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (ADP) For The Upcoming Trading Day Of Monday 4th
For the upcoming trading day on Monday, 4th we expect Automatic Data Processing to open at $231.83, and during the day (based on 14 day Average True Range), to move between $229.23 and $236.65, which gives a possible trading interval of +/-$3.71 (+/-1.59%) up or down from last closing price. If Automatic Data Processing takes out the full calculated possible swing range there will be an estimated 3.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $229.92 (1.30%) than the resistance at $242.63 (4.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Automatic Data Processing stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.803 Open Broker Account
Buy Candidate UpgradedPredicted Opening Price for Automatic Data Processing of Monday, December 4, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price December 4, 2023 | Current price |
|---|---|
| $231.83 | $232.94 (Overvalued) |
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Trading levels for ADP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 235.91 | 1.27 % | |
| R2 | 234.35 | 0.604 % | ||
| R1 | 233.39 | 0.191 % | ||
| Current price: | 232.94 | |||
| Support | S1 | 230.27 | -1.15 % | |
| S2 | 229.31 | -1.56 % | ||
| S3 | 227.75 | -2.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 246.38 | 5.77 % | |
| R2 | 245.31 | 5.31 % | ||
| R1 | 242.63 | 4.16 % | ||
| Current price | 232.94 | |||
| Support | S1 | 229.92 | -1.30% | |
| S2 | 218.33 | -6.27% | ||
| S3 | 210.37 | -9.69% |
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