Cable and Wireless Communications could reach its GBp 46.3 resistance.

From a fundamental viewpoint, the company is strong. It has a reasonable valuation with an "EV/Sales" ratio of 0.94x. Moreover, the price earning ratio is estimated at 7.51x for 2014. The Thomson Reuters consensus regularly revised upward EPS estimates of the company for 2014.

Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages and the bullish channel. In weekly data, the 20-period moving average helps the stock to keep its uptrend. Prices should come back on their GBp 44 short term support in coming trading sessions to find a new impetus.

Therefore, taking into consideration these fundamentals and technical elements, investors will wait the return on GBp 44 to open a buy position and target the GBp 46.3 resistance. A breakout of this threshold will open a new target at GBp 48, higher limit of the bullish channel. A stop loss should be placed under the short term support.