The share is meeting an important level. We suggest caution because this point could stop the bullish trend.

From a fundamental viewpoint, firstly, we note the high valuation of the company. P/E ratio for the current year is at 38.52x and expected at 39.34x for next year. With a valuation ratio of 3.07x, the group appears overvalued compared to its competitors.

Technically, the security could know a pullback after the contact with the USD 42.2 resistance. Indeed, the stock is moving in an upward trend in the short term but the mid-term and long term trend remain negative. In this context, the downward movement could come back and imply a return to USD 40.

Therefore, the most offensive investor can benefit from the technical configuration to take a short position. The objective will be fixed near to the USD 40 support. Only the breakdown of this level would open up new bearish targets toward USD 37.9. The stop loss will be set above USD 42.2.