The downward path seems to continue toward GBp 220.5 long term support.

Financially, the group is in a difficult situation with a high leverage estimated at 2.99x for 2013. Forecasts, downgraded by analysts regarding earnings per share and revenue, reflect the lack of visibility in the short and long term.

Graphically, we can see that the stock is in a bearish trend with decreasing moving averages, which serve as slant resistance. The security is moving towards GBp 220.5 in weekly data, the next support area.

Taking into account all these elements, investors could sell the stock bellow the GBP 290 support. A stop loss is placed above the Gbp 313.6 pivot point, threshold that would invalidate the bearish strategy.