Automatic Data Processing Inc

AAPL remains in a Stage 2 advancing uptrend with clear higher highs and higher lows since April, supporting a bullish medium-term bias. However, price is extended above rising EMAs, RSI and Options Score are in extreme overbought territory, and an active Bullish Exhaustion pattern signals weakening momentum. Short-term bias is bearish, indicating unfavorable timing and the need for patience. We will stalk for a pullback into the rising 9/21 EMA zone or prior breakout-consolidation area before engaging.

• ↑Q3 revenue grew 7% to $4.2B; adjusted EPS +10%; EBIT margin +80bps
• ↑$6B share buyback and $1.34–$1.35B client funds interest guidance boost returns
• ↓Valuation appears stretched, raising overpricing concerns