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Look for Shares of Automatic Data to Potentially Pullback after Yesterday's 1.41% Rise

By James Quinn

Automatic Data (NASDAQ:ADP) traded in a range yesterday that spanned from a low of $171.81 to a high of $174.49. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $172.47 on volume of 385,000 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, shares of Automatic Data have traded between a low of $130.00 and a high of $174.50 and are now at $174.23, which is 34% above that low price. The 200-day and 50-day moving averages have moved 0.12% higher and 0.30% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Automatic Data on October 17th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $164.60. Since that recommendation, shares of Automatic Data have risen 4.0%. We continue to monitor ADP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders automatic data

Ticker(s): ADP