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Shares of Automatic Data Has Risen Above Previous 52-Week High

By Nick Russo

Shares of Automatic Data (NASDAQ:ADP) traded today at $141.04, breaking its 52-week high. This new high was reached on below average trading volume as 190,000 shares traded hands, while the average 30-day volume is approximately 2.4 million shares.

Automatic Data (NASDAQ:ADP) is currently priced 9.7% above its average consensus analyst price target of $127.23. The stock should discover initial support at its 50-day moving average (MA) of $124.78 and subsequent support at its 200-day MA of $116.81.

Over the past year, Automatic Data has traded in a range of $100.02 to $141.04 and is now at $140.96, 41% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.2%.

Automatic Data Processing, Inc. is a global provider of business outsourcing solutions. The Company's services include a wide range of human resource, payroll, tax, and benefits administration solutions. Automatic Data also provides solutions to auto, truck, motorcycle, marine, and recreational vehicle dealers.

SmarTrend recommended that subscribers consider buying shares of Automatic Data on February 21st, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $116.82. Since that recommendation, shares of Automatic Data have risen 20.1%. We continue to monitor ADP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows automatic data

Ticker(s): ADP