AUTOMATIC DATA PROCESSING
(ADP-NYSE):
Technical Viewpoint: From a low
of $40.33 on Mar 22, 2004 prices
rallied, reaching a
high of $45.30
on Apr 6, 2004. A
decline saw prices pull back, reaching a
low of
$43.55 on Apr 14, 2004.
Another rally saw prices penetrate
resistance, closing 4/15/04
at $45.83. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Apr 2, 2004 when the Histogram crossed the "0" line to the upside.
Support: Remains at $43.50. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Apr 2, 2004. A P&F upside
reversal takes place at $44.00. Summary: Technical indicators have turned bullish. BUY! AUTOMATIC DATA PROCESSING
(ADP-NYSE) @ $46.13 Stop: Use a protective stop of $44.13.
AUTOMATIC DATA PROCESSING is currently trading @ $45.83 plus $1.48 on Apr 14, 2004. Price Objective:
$59.50. Risk/Reward: $2.00 VS. $13.37. Today's Risk Reward Ratio: 7:1
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