The British consultant and project manager has an unpromising future as indicators argue for a technical correction after attaining the GBp 1207 resistance area.

Sales where the entity mainly operates, Canada, felt 13% in 2013. Their estimated sales for 2014 don’t give us hope about a better financial situation as operating margins degrades. For 2013 fiscal year, the company posted results widely worse than forecasts (-19%), discouraging investors and analysts. Analysts have been revising downwards company’s EPS, thus a decrease of 14% have been registered for both 2014 and 2015.

The equity registered a doji candlestick yesterday lightly below the resistance point, revealing the indecision among traders on the bullish channel. The security could fail to come over the GBp 1207 resistance and hence would allow a downturn to overcome. As the bullish trend is anticipated to be stopped by this important barrier, investors could take advantage of the return toward the GBp 1124 support. In addition, the deep overbought situation of the stock confirms this picture.

Therefore, prices closeness of the midterm resistance calling for a correction, could result gainful for investors selling the stock at current levels. The main goal should be the GBp 1124 support and they could set their stop-loss order at GBp 1240.8, for restraining losses.