(News Bulletin 247) – The group should be buoyed by a comment from Morgan Stanley which maintains its market weighting recommendation with a price target raised from 124 to 137 euros. The stock has good fundamentals.
KEY GRAPHIC ELEMENTS
The stock is supported by near-term volumes after a long period of stabilization. The 50-period moving average is recovering and serving as dynamic support. Next objective for buyers: to reach €130.
FORECAST
Looking at the key chart factors we’ve mentioned, our view is bullish on ADP stock in the short term.
Active investors will take a purchase position on the ADP stock at a price of €117,900 with a target of €130,000 in their sights. They will protect their capital by placing a stop at €111,000.
News Bulletin 247 advice
DAILY DATA CHART
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