SABMiller 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.

Technically, the security could run out of steam close to the GBp 3657 resistance. Indeed, the stock is moving in an upward trend in the short term but it could know a halt. In this context, the downward movement could improve and it should expect a return to GBp 3411.5. Indicators that show an overbought situation confirm this scenario.

The upside seems limited as shown by fundamentals and technical configuration. In contact with the GBp 3657 resistance, a movement of consolidation could return the stock towards the GBp 3411.5 mid-term support. As a result, the most aggressive investors could take a short position near GBp 3657 but they need to set a stop loss above this resistance because the crossing of this level would invalidate our scenario.