A new upward movement is expected once the resistance currently tested is broken.

From a fundamental viewpoint, the company is strong. It has a reasonable valuation with an EV/Sales ratio of 0.77x and has no debt. Moreover, analysts revised upward their revenue estimates for the next two years.

Technical patterns are in the green: prices are up for several months. The movement should continue in the coming trading sessions. The 20-day moving average should help to breakout the GBp 618.5 resistance in order to reach the GBp 702 long term resistance.

Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position above the mid term resistance at GBp 618.5. The first target price will be the GBp 700 resistance. A stop loss will be placed under the entry points.