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Automatic Data Rises 1.23% on Heavy Volume: Watch For Potential Pullback

By David Diaz

Automatic Data (NASDAQ:ADP) traded in a range yesterday that spanned from a low of $136.02 to a high of $137.10. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $136.34 on volume of 398,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Automatic Data share prices have been bracketed by a low of $100.51 and a high of $141.52 and are now at $136.98, 36% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.8%.

SmarTrend is tracking the current trend status for Automatic Data and will alert subscribers who have ADP in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders automatic data

Ticker(s): ADP