The share is reaching a technical resistance and could begin a bearish trend.

From a fundamental viewpoint, firstly, we note the high valuation of the company. PER for the current year is at 19.69x and expected at 19.36x for next year. With a valuation ratio of 1.66x, the group appears overvalued compared to its business activity.

From a technical viewpoint, the proximity of the USD 28.8 medium-term resistance and the upper edge of the bearish channel limit the upside potential on the stock. The uptrend in the short term could be stopped by these levels and prices could decrease sharply in the coming sessions. Technical indicators also show an overbought situation that reinforces this bearish scenario. Thus, there is a higher downside potential than upside.

Therefore, the most offensive investors can benefit from the technical configuration to take a short position. The objective will be fixed near to the USD 25.1 support. Only the breakdown of this level would open up new bearish targets toward USD 21.9. The stop loss will be set above USD
28.