NASDAQ trade advice (A): US technology stock | 5-6% gain | USA stock trading picks on 28 Aug 2024

Date
August 28, 2024
Analysed By
Naranj Capital Research Desk
Stock Market
NASDAQ, United States of America

Trading Advice in US Stocks

  • Buy
  • Buy
    Range
  • Target
  • Stoploss
  • Upside
    Potential
  • Trade
    Duration
  • Automatic Data Processing
  • 270 – 274
  • 285 – 288
  • Below 265
  • 5% – 6%
  • 14 - 15 Days
  • Buy
    Automatic Data Processing
  • Buy
    Range
    270 – 274
  • Target
    285 – 288
  • Stoploss
    Below 265
  • Upside
    Potential
    5% – 6%
  • Trade
    Duration
    14 - 15 Days
  • * Once the first target hit, reset the StopLoss at your buying price.

    Automatic Data Processing (NASDAQ: ADP) - Stock Overview

  • NASDAQ code
  • Stock Name
  • Sector
  • 52 Weeks High
  • 52 Weeks Low
  • ADP
  • Automatic Data Processing
  • Technology
  • 275.1
  • 205.53
  • NASDAQ code ADP
  • Stock Name Automatic Data Processing
  • Sector Technology
  • 52 Weeks High 275.1
  • 52 Weeks Low 205.53
  • Automatic Data Processing (NASDAQ: ADP) vs NASDAQ - Relative Strength Comparison

    The image showcases Automatic Data Processing's 1-year performance relative to NASDAQ.
    Relative Performance - Last 1 Year
    ADP —   NASDAQ —

  • Automatic Data Processing (NASDAQ: ADP) - Technical Analysis (Daily)

    Automatic Data Processing - Technical Analysis chart on Daily Price and Volume
    Automatic Data Processing - Technical Analysis chart on Daily Price and Volume

    • The stock price had earlier established an Inverted Head & Shoulders pattern.
    • After breaking out, it experienced a initial rise but encountered resistance around the 255 level.
    • This was followed by a period of consolidation, during which a Broadening pattern emerged.
    • With another breakout, the stock price soared and is now trading at an all-time high, with expectations of further upward movement.
  • Automatic Data Processing (NASDAQ: ADP) - RSI Indicator

    Automatic Data Processing stock analysis based on RSI indicator
    Automatic Data Processing - RSI indicator

    • Current RSI of this stock is 77.89, which indicates the strength of buyers.

  • Automatic Data Processing (NASDAQ: ADP) - ADX & DI Indicator

    Automatic Data Processing stock analysis based on ADX & DI indicator
    Automatic Data Processing - ADX & DI indicator

    • Increasing ADX value above 20, indicated the strength of the trend, thereby uptrending ADX confirms the bullish or bearish supportive decisions. Along with the rising ADX, and the +DI is above (or crossing) -DI, indicates the long trades should be favoured.

  • Automatic Data Processing (NASDAQ: ADP) - EMA Crossover

    Automatic Data Processing stock analysis based on EMA Crossover
    Automatic Data Processing - EMA Crossover

    • The short length exponential moving average (10 EMA) has crossed the long length exponential moving average (20 EMA) from the below, generates bullish signal. Last day’s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.

  • Conclusion - Automatic Data Processing (NASDAQ: ADP) Stock Price Forecast

    Based on our swing trading advisory service, Automatic Data Processing stock price target will be USD 285 - USD 288 in the next 14-15 trading sessions.

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    Target hit. Trade closed.

    NASDAQ: ADP

    28 Aug 2024
    3 Oct 2024
    9 Oct 2024
    25 days
    Loss per
    100,000 SAR
    Stop-loss
    265
    Buy Advice
    28 Aug 2024
    270 – 274
    Target 1
    3 Oct 2024
    285
    Target 2
    9 Oct 2024
    288
    Profit per
    100,000 SAR
    25 days
    6,667
    265
    270 – 274
    285
    288
    6,667
    28 Aug 2024
    3 Oct 2024
    9 Oct 2024
    25 days
    Loss per
    100,000 SAR
    Stop-loss
    265
    Buy Advice
    28 Aug 2024
    270 – 274
    Target 1
    3 Oct 2024
    285
    Target 2
    9 Oct 2024
    288
    Profit per
    100,000 SAR
    25 days
    6,667
    265
    270 – 274
    285
    288
    6,667
  • Buy
  • Buy
    Range
  • Target
  • Stoploss
  • Upside
    Potential
  • Trade
    Duration
  • Automatic Data Processing
  • 270 – 274
  • 285 – 288
  • Below 265
  • 5% – 6%
  • 14 - 15 Days
  • Buy Automatic Data Processing
  • Buy
    Range
    270 – 274
  • Target 285 – 288
  • Stoploss Below 265
  • Upside
    Potential
    5% – 6%
  • Trade
    Duration
    14 - 15 Days
  • Buy
  • Buy
    Range
  • Target
  • Stoploss
  • Upside
    Potential
  • Trade
    Duration
  • Automatic Data Processing
  • 270 – 274
  • 285 – 288
  • Below 265
  • 5% – 6%
  • 14 - 15 Days
  • Buy
    Automatic Data Processing
  • Buy
    Range
    270 – 274
  • Target
    285 – 288
  • Stoploss
    Below 265
  • Upside
    Potential
    5% – 6%
  • Trade
    Duration
    14 - 15 Days
  • * Once the first target hit, reset the StopLoss at your buying price.
    * Trade durations are approximate; actual holding period may vary.

    Automatic Data Processing (NASDAQ: ADP) - Stock Overview

  • NASDAQ code
  • Stock Name
  • Sector
  • 52 Weeks High
  • 52 Weeks Low
  • ADP
  • Automatic Data Processing
  • Technology
  • 275.1
  • 205.53
  • NASDAQ code ADP
  • Stock Name Automatic Data Processing
  • Sector Technology
  • 52 Weeks High 275.1
  • 52 Weeks Low 205.53
  • Company profile

    Automatic Data Processing, Inc. offers cloud-based human capital management (HCM) solutions globally. It has two main segments: Employer Services and Professional Employer Organization (PEO). The Employer Services segment provides strategic cloud platforms and HR outsourcing, including RUN Powered by ADP for small business payroll, ADP Workforce Now for mid-sized and large businesses, and ADP Vantage HCM for comprehensive HR management. The PEO Services segment delivers HR and employment outsourcing under the ADP TotalSource brand, focusing on co-employment, employee benefits, compliance, talent engagement, and recruitment outsourcing. Founded in 1949, the company is based in Roseland, New Jersey.

  • Automatic Data Processing (NASDAQ: ADP) vs NASDAQ - Relative Strength Comparison

    The image showcases Automatic Data Processing's 1-year performance relative to NASDAQ.
    Relative Performance - Last 1 Year
    ADP —   NASDAQ —

  • Automatic Data Processing (NASDAQ: ADP) - Technical Analysis (Daily)

    Automatic Data Processing - Technical Analysis chart on Daily Price and Volume
    Automatic Data Processing - Technical Analysis chart on Daily Price and Volume

    • The stock price had earlier established an Inverted Head & Shoulders pattern.
    • After breaking out, it experienced a initial rise but encountered resistance around the 255 level.
    • This was followed by a period of consolidation, during which a Broadening pattern emerged.
    • With another breakout, the stock price soared and is now trading at an all-time high, with expectations of further upward movement.
  • Automatic Data Processing (NASDAQ: ADP) - RSI Indicator

    Automatic Data Processing stock analysis based on RSI indicator
    Automatic Data Processing - RSI indicator

    • Current RSI of this stock is 77.89, which indicates the strength of buyers.

  • Automatic Data Processing (NASDAQ: ADP) - ADX & DI Indicator

    Automatic Data Processing stock analysis based on ADX & DI indicator
    Automatic Data Processing - ADX & DI indicator

    • Increasing ADX value above 20, indicated the strength of the trend, thereby uptrending ADX confirms the bullish or bearish supportive decisions. Along with the rising ADX, and the +DI is above (or crossing) -DI, indicates the long trades should be favoured.

  • Automatic Data Processing (NASDAQ: ADP) - EMA Crossover

    Automatic Data Processing stock analysis based on EMA Crossover
    Automatic Data Processing - EMA Crossover

    • The short length exponential moving average (10 EMA) has crossed the long length exponential moving average (20 EMA) from the below, generates bullish signal. Last day’s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.

  • Conclusion - Automatic Data Processing (NASDAQ: ADP) Stock Price Forecast

    Based on our swing trading advisory service, Automatic Data Processing stock price target will be USD 285 - USD 288 in the next 14-15 trading sessions.

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    Details of Arijit Banerjee

    Arijit Banerjee CMT CFTe is a seasoned expert in the financial industry, boasting decades of experience in trading, investment, and wealth management. As the founder and chief strategist of Naranj Capital, he’s built a reputation for providing insightful research analysis to guide investment decisions.

    Arijit’s credentials are impressive, holding both the Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) designations. These certifications demonstrate his expertise in technical analysis and financial markets.

    Through Naranj Capital, Arijit shares his market insights and research analysis, offering actionable advice for investors. His work is featured on platforms like TradingView, where he publishes detailed analysis and recommendations.

    If you’re interested in learning more about Arijit’s work or Naranj Capital’s services, you can reach out to them directly through their website