In a tight trading range, the proximity of the EUR 35.7 support should help for a technical rebound.

From a fundamental viewpoint, the enterprise value is 0.59 times its sales according to Thomson Reuters and the company is undervalued compared to its peers.

In the long term, the trend is bearish. Volatility is reduced but, because of the current tight trading range, there is a good chance of a sharp increase when the stock will leave it. So investors should keep a watchful eye on the stock movement in this area of EUR 35.7 / 36.8. This illustrates investors' interest for the stock and enables to anticipate an acceleration in price growth.

Therefore, active investors could take a long position in Colruyt thanks to its graphical pattern and its strong fundamentals. The target price is EUR 38.35. A stop loss order can be placed under the EUR 35.7 to avoid important losses.