Groupe ADP may fall to 98.10 - 101.60

119.9 is our pivot point.

Our preference

The downside prevails as long as 119.9 is resistance.

Alternative scenario

Above 119.9, look for 126 and 129.6.

Comment

The RSI is below 30. It could either mean that the stock is in a lasting downtrend or just oversold and therefore bound to retrace (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 125.31 and 123.282). Finally, Groupe ADP is trading below its lower daily Bollinger band (standing at 113.4).

Supports and resistances

129.6 **

126 *

119.9 **

117.6

112.3 (EUR-last)

105

101.6 **

98.1 *

94.5 **

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