Manpower's power loss in focus
Manpower belongs to the top three employment agencies with approximately 35,000 employees, 3,100 branches worldwide and revenues of $20.3 billion in 2014.
In Figure 1 we can see that the stock price has risen since 2011 from about $32.00 up to about $97.50. Currently the stock is in a correction after it reached it´s all-time high. For the medium-term trader a local downtrend on the daily chart has formed and is currently in a correction.
MAN Weekly Chart
Source: ATT Trading. Create your own charts with SaxoTrader click here to learn more
Management and risk description
On the daily chart we can see this downtrend, which is drawn in blue. The down movements have much more volume which is a good indication for a short trade. Currently the stock made a 90% correction and we could get an entry very soon.
For a medium-term short trade we could wait for a subordinate downtrend to get an entry into this trade. With increasing selling pressure this trade our targets are $77.50 and $63.00.
Above the price level of $91.00 our short idea would be over and we would have to wait until the stock made a new trend.
MAN Daily Chart
Source: ATT Trading
Target: $77.50, $63.00
Time horizon: medium-term
— Edited by Clare MacCarthy
Non-independent investment research disclaimer applies. Read more