The share is approaching a technical resistance and could return to a bearish configuration.

From a fundamental viewpoint, the group's situation stay fragile. Indeed, analysts have largely revised downward their EPS estimations which could lead to some profit taking in the short run.

From a technical viewpoint, the proximity of the GBp 220 medium-term resistance limits the upside potential on the stock. The uptrend in the short term could be stopped by this level and prices could decrease sharply in the coming sessions. Technical indicators also show an overbought situation that reinforces this bearish scenario.

Due to the technical configuration and a fragile fundamental situation that does not justify the current valuation of the group, investors can open a short position close to the GBp 220 resistance. The price target is set at GBp 174.2 and a stop loss will be placed above GBp 220.