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SmarTrend Watching for Potential Pullback in Shares of Automatic Data Processing After 1.28% Gain

By Nick Russo

Automatic Data Processing (NASDAQ:ADP) traded in a range yesterday that spanned from a low of $88.54 to a high of $89.72. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $88.94 on volume of 794,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is monitoring the recent change of momentum in Automatic Data Processing. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Automatic Data Processing in search of a potential trend change.

In the past 52 weeks, shares of Automatic Data Processing have traded between a low of $64.29 and a high of $96.00 and are now at $89.53, which is 39% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

Keywords: rebounders Automatic Data processing

Ticker(s): ADP