The share is meeting an important level. This point has already stopped the bullish trend.

The fundamentals remain very fragile. The security seems highly overvalued compared to other securities in its sector. Moreover, the group has an important level of debt, as shown the financial leverage of 8.09x for 2013.

From a technical viewpoint, the proximity of the EUR 32.2 short-term resistance limits the upside potential on the stock. The uptrend in the short term has been stopped by this level and prices should decrease sharply in the coming sessions. Technical indicators also show an overbought situation that reinforces this bearish scenario. Thus, there is a higher downside potential than upside.

Therefore, the proximity of short-term resistance suggests a consolidation or a correction phase in the coming sessions. The most offensive will open a short position in the current area to target a return on the EUR 30.7 support, and by estension EUR 28.9. It should protect the position with a stop loss set above EUR 32.2.