Ashmore Group reaches a level of resistance. This level could contain the upward trend in the short term.

The company still displaying poor fundamentals. Even if sales are expected to increase on the current fiscal year, its EBITDA is anticipated at lower levels than those registered in prior year. On the other hand, the security seems highly overvalued compared to its peers.

Graphically, the share is in the middle of a technical rebound that allowed it to reach the GBp 298.5 mid-term resistance. This area could trigger a sell signal for investors in a profit-taking scenario. Furthermore, the rallying of the GBp 274.7 support area will be considered for upcoming sessions.

The upside seems limited as shown by fundamentals and technical configuration. By the recent contact with the GBp 298.5 resistance, a movement of consolidation could return the stock towards the GBp 274.7 mid-term support. As a result, the most aggressive investors could take a short position at current prices but they need to set a stop loss above the GBp 298.5 resistance.