According to Surperformance ratings, the group has strong fundamentals, both in terms of business predictability and valuation. Based on current prices, the company is valued at 0.65 times its sales. In addition, analysts have recently revised upward their earnings estimates and now expect a profit of 10.46 GBp per share for the current year.

Graphically, buyer flows are reduced. If the trend is now bearish in the short term, profit taking is part of a rebound on the GBp 104 and therefore does not affect the upward trend in the medium and long term.

In this configuration, the GBp 104 area is an important support for a reversal. Investors could take a buy order on this level and get a good entry point to target the GBp 117.9 with a stop below the medium term support.