The Automatic Data Processing, Inc. (NASDAQ) Analysis, Chart, and Trading Idea

#ADP

The trend is ascending. Bears tested the mirror level at 223.50. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.

Trading idea:

Buy at the formation of the ascending wave structure, when the (A) wave breaches the sloping channel of the descending truncated structure;

Stop-Loss: under the local minimum of the downward structure (223.50);

Target price levels: 160.50; 165.90.