ADP Stock Climbs Nearly 3% and Challenges the €115.70 Resistance

The Stock Challenges its €115.70 Resistance with Favorable Moving Averages

ADP stock gains 2.76% to €115.50, just shy of its identified resistance at €115.70. The stock has significantly surpassed its three moving averages, with a nearly 5% gap over the MM20 (€110.09) and 6% over the MM50 (€108.79). The MM200 at €113.42 is also breached, indicating a trend recovery after spring's hesitations. The RSI at 58 remains in a neutral zone, leaving room before any overbought signal.

The movement occurs in a supportive sectoral context: Brent crude fell nearly 2% to around $70.7 per barrel, amid normalization of flows through the Strait of Hormuz, which lightens the energy bill for air transport players. The session places ADP in the top half of the SBF 120 as the index rises by 0.54%. The stock erases part of the 2.5% decline suffered in mid-June when it had stumbled on its 200-day moving average.

Ambitious 2026 Guidance and a Mixed Air Traffic Context in the Background

During the annual results announcement for 2025 (on March 13, 2026), the group targeted a current EBITDA of more than €2,350 million for the 2026 fiscal year, with a Net Debt / EBITDA ratio of less than or equal to 3.7x and capex around €1,450 million. The distribution policy remains calibrated at 60% of the net income attributable to the group, with a minimum of €3.00 per share. Traffic is expected to grow by 1.5% to 2.5% over the year. ACI Europe data published in early June provides a mixed picture: passengers in Europe declined by 0.7% in April, and the Major category lost 3.5%.

Paris-CDG is stable (+0.0% in passengers), while Skopje, operated under concession, grew by 31.1%. The €600 million bond refinancing completed on June 10, with a coupon of 3.875% over nine years, further secures the group's financial structure. The next technical milestone to watch is the effective crossing of the €115.70 resistance.