The EUR 52.9 support area, currently tested, might facilitate a technical rebound. The company’s fundamentals validate this scenario with an interesting valuation, a good profitability and a sound financial situation.

Technically, in daily data, even if moving averages are not all well-oriented, a positive reaction in the EUR 52.9 area should stop the bearish trend and allow a technical rebound towards EUR 55.8. Moreover, the trading range EUR 52.9/55.8 has been maintained for many weeks, so this situation should continue.

Therefore, the proximity of the EUR 52.9 support is an opportunity to take a long position. The first goal is a return to the EUR 55.8 resistance area. In fact, the security has to cross this area in order to re-establish a bullish trend to reach the EUR 58.45. A stop loss order can be placed under the support currently tested.