Automatic Data Processing (ADP) NewsBite - ADP Continues Post Earnings Strength
Posted: Thursday, November 12, 2009 12:13 PM EDT
By: Market Intelligence Center Staff
Automatic Data Processing (NasdaqNM: ADP) hit a new 52-Week high of $43.78 so far today. Currently the stock is up $0.08 (0.17%) to $43.47 on 1,152,358 shares traded. Today's high is up $11.80 from a 52-Week Low of $31.67. Automatic Data Processing stock has been showing support around $42.72 and resistance in the $43.98 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 strong following its strong quarterly results earlier this month, and rose to a new 52 week high today. The company announced earlier this week that it would be increasing quarterly dividends by 3% to $0.34. 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 39 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Automatic Data Processing (ADP) Stock ReportSee what our analysts have uncovered about Automatic Data Processing (ADP).