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Automatic Data Processing Rises 1.44% on Heavy Volume: Watch For Potential Pullback

By Shiri Gupta

Automatic Data Processing (NASDAQ:ADP) traded in a range yesterday that spanned from a low of $86.93 to a high of $87.83. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $87.79 on volume of 837,000 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 its subscribers protect gains by selling shares of Automatic Data Processing on July 29th, 2016 by issuing a Downtrend alert when the shares were trading at $90.15. Since that call, shares of Automatic Data Processing have fallen 4.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Automatic Data Processing share prices have moved between a 52-week high of $96.00 and a 52-week low of $64.29 and are now trading 36% above that low price at $87.49 per share. The 200-day and 50-day moving averages have moved 0.14% higher and 0.25% higher over the past week, respectively.

Keywords: rebounders Automatic Data processing

Ticker(s): ADP