Indicators argue for a technical correction after the last bullish movement recorded in past sessions.

Fundamentals of the company are strong and perspectives on the activity are encouraging with increasing sales and margins. However, over the last twelve months, analysts have slightly lowered their revenue and EPS estimates for the coming years. The company also appears overvalued with a P/E of 21.5 for the current year estimated earnings and a EV/EBITDA at 12.1 for the same period.

Graphically, the share is in a period of technical rebound that allowed it to reach the GBp 809.5 mid-term resistance. This area could trigger a sell signal for investors in case of profit-taking. Thus, the stock should begin a correction phase bringing it back to GBp 724.

Due to the technical configuration and a bad fundamental situation that does not justify the current valuation of the group, investors can open a short position close to the GBp 809.5 resistance. The target price is set at GBp 724 and a stop loss will be placed above GBp 809.5.