From a fundamental viewpoint, analysts have revised downward their EPS expectations during this year. Indeed, the EPS is expected to decrease by 3.25% in 2014 compared to 2013. This situation could be explained by the tiny slowdown in sales.
Technically, the security had a technical rebound but there is still a bearish trend in the mid-term. The bullish bounce should be stopped in the coming trading sessions. Thanks to it, the security could reaches the GBp 2440 resistance area and then decrease toward the GBP 2150 area.
The bearish trend and poor fundamentals let think about a continuation of the downtrend. The entry point could be fixed close to the GBp 2440 resistance for getting short on Intertek Group. The target price will be the mid-term support area at GBp 2149 and a stop loss order must be placed above GBp 2440. A stop loss will be fixed above the 50-day moving average.