Automatic Data Processing Stock Forecast
Stronger technical forecast for Automatic Data Processing stock price after Wednesday trading.
(Updated on Mar 27, 2024)
The Automatic Data Processing stock price gained 1.33% on the last trading day (Wednesday, 27th Mar 2024), rising from $245.07 to $248.33. During the last trading day the stock fluctuated 1.03% from a day low at $246.88 to a day high of $249.43. The price has been going up and down for this period, and there has been a 1.69% gain for the last 2 weeks. Volume fell on the last day by -8 thousand shares and in total, 1 million shares were bought and sold for approximately $264.39 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.87% during the next 3 months and, with a 90% probability hold a price between $257.82 and $276.69 at the end of this 3-month period.
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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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $246.57 and $248.24. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 2.68%. 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 $246.20 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 $2.55 between high and low, or 1.03%. For the last week the stock has had daily average volatility of 1.26%.
Our recommended stop-loss: $236.85 (-4.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (ADP) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Automatic Data Processing to open at $248.21, and during the day (based on 14 day Average True Range), to move between $245.11 and $251.55, which gives a possible trading interval of +/-$3.22 (+/-1.30%) up or down from last closing price. If Automatic Data Processing takes out the full calculated possible swing range there will be an estimated 2.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $248.81 (0.19%) than the support at $246.20 (0.86%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Automatic Data Processing stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Automatic Data Processing 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: 3.077 Buy Candidate Upgraded
Predicted Opening Price for Automatic Data Processing of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$248.21 ( 0.0465%) | $248.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 250.76 | 0.98 % | |
R2 | 249.79 | 0.587 % | ||
R1 | 249.19 | 0.345 % | ||
Current price: | 248.33 | |||
Support | S1 | 247.24 | -0.438 % | |
S2 | 246.64 | -0.680 % | ||
S3 | 245.67 | -1.07 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 251.13 | 1.13 % | |
R2 | 249.69 | 0.548 % | ||
R1 | 248.81 | 0.193 % | ||
Current price | 248.33 | |||
Support | S1 | 246.20 | -0.86% | |
S2 | 245.78 | -1.03% | ||
S3 | 242.09 | -2.51% |
ADP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 10, 2024 | Mar 07, 2024 | Apr 01, 2024 | $1.40 | 0.564% |
2 | Dec 07, 2023 | Dec 07, 2023 | Jan 01, 2024 | $1.40 | 0.601% |
3 | Aug 03, 2023 | Sep 07, 2023 | Oct 01, 2023 | $1.25 | 0.520% |
4 | Apr 12, 2023 | Jun 08, 2023 | Jul 01, 2023 | $1.25 | 0.569% |
5 | Jan 11, 2023 | Mar 09, 2023 | Apr 01, 2023 | $1.25 | 0.561% |
FAQ
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