Groupe ADP may fall to 104.70 - 108.00

Our pivot point is at 125.2.

Our preference

The downside prevails as long as 125.2 is resistance.

Alternative scenario

The upside breakout of 125.2 would call for 131 and 134.3.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 126.79 and 123.794). Finally, Groupe ADP has penetrated its lower daily Bollinger band (118.67).

Supports and resistances

134.3 **

131 *

125.2 **

123

118.4 (EUR-last)

111.3

108 **

104.7 *

101.2 **

Number of asterisks represents the strength of support and resistance levels.