In the past few sessions Burberry Group's share sharply fell but the stock is presently coming back to a significant support level.

The share, currently oversold, evolves in a downtrend in the long term. In a short term horizon, this trend could be reversed as it approaches the GBp 1078, level from which the bullish run could start. This support represents a buying opportunity in the context of a foreseeable technical rebound toward GBp 1195.

Thanks to the technical pattern and Burberry Group’s strong fundamentals, active investors can open a long trade above GBp 1078 strong support. The downside potential is limited and the timing seems good to benefit from a technical rebound. The goal will be fixed at GBp 1195 in a first time. However, a bearish trend would regain the upper hand if the security breakdown the GBp 1078.