After a sharply fall, Genel Energy had a bullish trend that is slowing down now.

From a fundamental viewpoint, analysts have largely revised downward their EPS estimates, situation that could feed some profit taking in the short run.

Technically, shares are in a sharp downtrend in both daily and weekly data. Recently the stock knew a tiny rebound and has been pushed towards the GBp 614.5 resistance which acted as a stopping point. Now, the stock could return in contact with its GBp 561 support as the trend and bearish moving averages suggest.

Considering these elements, the timing seems good to take a short position in Genel Energy and to anticipate a comeback in a significant support area at GBp 561. A stop loss should be set above the GBp 599 20-day moving average.