Why I like ADP

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First of all, what I don't like is this positive news from Yahoo Finance (https://finance.yahoo.com/news/adp-high-quality-company-enjoying-205911571.html) Many times they tell us things to get excited, buy and thus collapse the action... but hey, that's a matter of luck.

Secondly, ADP presents, from my humble point of view, a pattern of Accumulation-Manipulation and subsequent Expansion as shown in the chart.


Also, ADP has received a lot of volume on 3/17 which, from the subsequent sideways movement, undoubtedly symbolizes institutional buying.

The trend line break is not pretty to see, but if we stick with the pattern I mentioned, ADP would be at an interesting Buy price in the zone of $210-$220 to hold to $245 or above.

If the price breaks below $210 we will sadly have to either sell at a loss or hold for a much longer term than expected.

Personally, I bought 9 shares of ADP at the price of $225 not knowing that the Manipulation phase would come.


Location: Wall St, New York, NY, EE. UU.

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