TMCnet News
After Yesterday's Rally of 2.82% Shares Could Potentially PullbackFeb 05, 2013 (SmarTrend(R) News Watch via COMTEX) -- Automatic Data Processing (NASDAQ:ADP) traded in a range yesterday that spanned from a low of $59.56 to a high of $61.25. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $60.75 on volume of 3.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious. SmarTrend recommended that subscribers consider buying shares of Automatic Data Processing on December 5th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $56.99. Since that recommendation, shares of Automatic Data Processing have risen 4.5%. We continue to monitor ADP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Over the past year, Automatic Data Processing has traded in a range of $50.89 to $61.25 and is now at $61.23, 20% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |