Automatic Data Processing (ADP) NewsBite - ADP Hits 52-Week High

Posted: Monday, November 23, 2009 1:51 PM EDT

Automatic Data Processing (NasdaqNM: ADP) hit a new 52-Week high of $44.37 so far today. Currently the stock is up $0.74 (1.7%) to $44.19 on 1,376,542 shares traded. Today's high is up $12.52 from a 52-Week Low of $31.67. Automatic Data Processing stock has been showing support around $42.87 and resistance in the $43.93 range. Technical indicators for the stock are neutral and S&P gives ADP a neutral 3 STARS (out of 5) hold ranking. ADP continues to trade higher following better than expected earnings earlier this month for its fiscal first quarter. If you are looking for a hedged play on ADP the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 40 range. [ABR-Seven Summits Strategic Investments NewsBite]

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