Indicators argue for a technical correction after the last bullish movement recorded in past sessions.

From a fundamental viewpoint the company appear overvalued. P/E Ratio for the current year is at 41.1x and expected at 17.25x for next year. With a valuation ratio of 2.47x, the group appears overvalued compared to its business activity.

Graphically, the share is in the middle of a technical rebound that allowed it to reach the GBp 191 mid-term resistance. This area could trigger a sell signal for investors in a scenario of profit-taking.

Due to the technical patterns and poor quality fundamentals that do not justify the current valuation of the group, investors can open a short trade close to the GBp 191 resistance. The price target being set at GBp 173, a stop-loss order could be placed above GBp 191 for limiting further risks.