Delhaize' stock could regain its upward trend in contact with the bullish trend line.

Fundamentally, the valuation of the group remains attractive for investors because the P/E ratio for this year is expected at 13.1x and 11.2x for the next year. In addition, net debt plus market capitalization of the company is only 0.23x its revenue, which is relatively a low level compared to its peers.

Technically, the stock stopped its bullish progression in contact with EUR 53.2 to return on its bullish trend line, also corresponding to the 50-day moving average. This level currently reached, should allow prices to rebound towards EUR 53.2.

Investors will be able to buy the security Delhaize based on current prices to target a return on the EUR 53.2. A stop loss will be set under the short term support (EUR 48.35).