ADP looking to head higher prior to earnings?
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 Industrial sector
* Broke out of a roughly month long base last week
* Came back down to a buying range and now increasing in volume again
Trade idea:
* Right now's a good time to enter as it's using it's 10 EMA as support.
* It's 2.1% above the broken resistance which is still very close
* Offering a great risk to reward ratio
* If you're looking for a better entry, you can look for an opportunity near the $240.11 area
Caution:
* A break below $236.13 would negate this idea.
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 Industrial sector
* Broke out of a roughly month long base last week
* Came back down to a buying range and now increasing in volume again
Trade idea:
* Right now's a good time to enter as it's using it's 10 EMA as support.
* It's 2.1% above the broken resistance which is still very close
* Offering a great risk to reward ratio
* If you're looking for a better entry, you can look for an opportunity near the $240.11 area
Caution:
* A break below $236.13 would negate this idea.
