ADP shares break through the 111.70 € resistance and post their best week

A 111.70 € threshold regained intraday, above all moving averages

ADP shares gain 2.16% to 113.40 € while the CAC 40 rises 1.19%. Intraday, the stock broke upward through the highest of its last 30 sessions, at 111.70 €, and is holding above it: this level is becoming a support.

The move is all the more pronounced as the price moves back above its MM20 (a gap of +5.29%), its MM50 (+4.51%) and its MM200 (+3.02%), after trading below all of these benchmarks at the beginning of the month.

The stock has gained 4.81% over one week, but it is still down 4.81% over one year. The next resistance lies at 123 €. On the bond market, the 10-year French OAT yields 4.89% according to the Banque de France data of October 29, 23 basis points from the series peak.

Nine-month revenue up 1.4% and short positions at 2.53%

The rebound follows by one week the publication, on October 22, of nine-month revenue of €5,106 million, up 1.4%, with TAV offsetting Paris.

On October 15, the group had lowered its Paris traffic assumption and was targeting the low end of its EBITDA range. At the time of that publication, the company cited among its risks the conflict in the Middle East and the works at Orly.

Another data point to watch: four funds together hold 2.53% of the capital sold short according to the declarations consulted, versus 1.34% 30 days ago. The 1.19-point increase in one month is rapid, but the level remains modest.

The 10-year OAT-Bund spread, around 153 basis points, also keeps tension on French stocks. The next figure to monitor is the 123 € resistance.