ADP shares break above €114.80 and gain 8.5% over one month

A €114.80 level reclaimed and an 8% rebound over one month

ADP shares gain 1.92% to €116.50 during the session, after breaking above their highest level of the last 30 sessions (€114.80), which has now become support.

The stock benefits from a CAC 40 rising 1.54% and a SBF 120 up 1.5%, without the move ranking among the most pronounced in the index.

Over one month, the gain reaches 8.37%, placing the price more than 6% above its 20-, 50- and 200-day moving averages, a configuration it lacked in early October. The next resistance is at €123.

The context remains mixed: on October 22, the group published revenue of €5,106 million for the first nine months of 2026, up 1.4%. In detail, TAV offsets Paris, whose traffic is expected to decline slightly over the fiscal year since the assumption revision of October 15.

Short positions at 2.53% of capital, up 1.09 points in one month

Net short positions on ADP are rising rapidly. Four funds together hold 2.53% of the capital according to the declarations consulted, versus 1.44% thirty days ago, the latest declaration dating from October 22. This level remains limited, but the trend shows that institutional investors are positioning against the stock or seeking to hedge an exposure, at the very moment the price is rising. The evolution of this figure should therefore be monitored without concluding to a massive loss of confidence.

On the activity side, ACI Europe reported a 1.1% decline in traffic at Paris-CDG for August, while Skopje rose 34.8% and Ankara 13.3%, two airports under the group's concession. The €123 zone remains a resistance level identified above the price, while the €114.80 support has just been reclaimed.