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Top 6 Stocks to Buy for October

These stocks represent good values and could make major moves higher this month

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Top Stock to Buy #1 – Automatic Data Processing (ADP)

Automatic Data Processing (NASDAQ:ADP) is one of the world’s largest independent computing services companies. It is the largest provider of payroll outsourcing services and offers tax filing and benefits administration.

Earnings increased to $2.82 in FY 2012 (ended in June) from $2.52 in FY 2011, and the company is expected to earn $2.89 in FY 2013.

In late June, the stock popped through a long-term resistance line with a breakaway gap — a very bullish event. It rallied to over $59 supported by three buy signals from our proprietary indicator, the Collins-Bollinger Reversal (CBR), and appears capable of breaking again to new highs.

Insiders have been buying ADP, and the company has a stock buyback program in force. The trading target is $65, but long-term buyers should hold this cornerstone tech stock.

ADP Chart
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Article printed from InvestorPlace Media, http://investorplace.com/2012/10/top-stocks-to-buy-adp-brli-cern-hnz-lmt-oke/.

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