If I take a look at the chart of ADP, along with the development of the broader markets (those charts not captured), I'd be on the hook to look at the Unemployment Rate being at the consensus of 3.7%; however, it it comes in at 3.5% as it did in August (where it referenced July), then you could see some buying pressure -- nevertheless, I'd be looking at shorting...
The PEAD projected a Bullish outlook for $ADP after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 100%.
ADP has been in a nice uptrend from Covid bottom. My bet is that it will bounce from bottom trend line and target is ATH. SL just below previous bottom and will trigger for reversal of trend.
R/R ratio: 3,62
The PEAD projected a Bullish outlook for $ADP after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 100%.
Goals 193, 179, 170. Invalidation at 244.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels...
The PEAD projected a Bullish outlook for $ADP after a Negative under reaction following its earnings release placing the stock in drift D with an expected accuracy of 100%.
Note:
I last mentioned this around late October 2021.
Since then it's gone up and consolidated while the rest of the market was turning down.
This shows institutional support technically and it's also doing really well fundamentally.
* Amazing earnings quarter over quarter
* Incredibly strong long term up trend
* High 3-month relative strength of 2.64 in the...
* Exceptional earnings
* Very strong up trend
* High RS in the Industrials sector
* Breaking out of a ~12 week well rounded base
* Picking up on volume
