The technical configuration suggests a correction in the short term.

In a fundamental point of view, EPS have been revised downward all over the year by the analysts of Thomson Reuters. Moreover, the growth potential of the company seems limited if we have a look on the expected revenues for the next years.

Graphically, the stock went through a period of rebound in recent sessions towards the GBp 51.85 medium-term resistance. The share should consolidate near this area. It could act as a stopping point for the upward movement. This scenario suggests a return to the GBp 47.15 support area which will be a bearish objective.

The technical configuration and fundamentals lead us to predict a consolidation phase, at least in the short term. The GBp 51.9 should play its full role and to stop the upward trend initiated in the short term. Therefore, to take advantage of this technical correction, a short position may be opened in the current area to target GBp 47.2. In case of further acceleration, the stop loss will be triggered at GBp 52.6.