In the past few sessions, Marks and Spencer Group have suffered from a sharp fall and is now coming back on significant level support.

From a fundamental viewpoint, the security is cheap with a PER of 11.37x for 2013 and 10.29x for 2014. Besides, EV/Sales is low with a ratio at 0.83x for this year.

Currently the stock is oversold and, in the mid-term, it is trading in a bearish trend. In the short term, this trend is reversed upon contact with the GBp 356.8 area. Marks and Spencer Group should be able to confirm its increase in the next trading sessions. This support is a trading opportunity in order to anticipate a technical rebound towards GBp 375.8 and by extension towards GBp 398.8.

Therefore, the proximity of the GBp 356.8 support is an opportunity to take a long position in Marks and Spencer Group. The first goal is a return in the GBp 375.8 resistance area. In fact, the security has to cross this area in order to re-establish a bullish trend in the mid term. A stop loss order can be placed under the support area currently tested.