Technical patterns as well as solid fundamentals lead us to forecast a rebound.

Solid financials are highlighted by good Surperformance© ratings. The group benefits from upward revisions on projected earnings per share and sales. In addition, according to the consensus, revenues should increase this year. Its P/E ratio of 13.4x computed on 2014 estimates represents an attractive valuation and argues for price appreciation. Moreover, the debt should decrease, with a leverage anticipated at 0.81x in 2014 compared to 1.35x last year.

Technically, the stock evolves for several months in the trading range of USD 89/93.4. The stock is trading close to its short term level at USD 89, which could lead to an upward acceleration towards moving averages in the USD 92 zone. The crossing of this threshold should be a new buyer signal to target USD 95.1.

Therefore, long positions can be opened on current prices. The aim of the rebound corresponds to the USD 92 level and USD 95.1 by extension, with a stop-loss order under the USD 89.06.