Groupe ADP may fall to 98.60 - 102.20

Our pivot point stands at 122.8.

Our preference

The downside prevails as long as 122.8 is resistance.

Alternative scenario

Above 122.8, look for 129.1 and 132.9.

Comment

The RSI is trading below 30. This could mean that either the stock is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 126.085 and 123.52). Finally, Groupe ADP is trading below its lower daily Bollinger band (standing at 115.83).

Supports and resistances

132.9 **

129.1 *

122.8 **

120.5

112.8 (EUR-last)

105.7

102.2 **

98.6 *

95.1 **

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