The downward path seems to continue toward EUR 31.35.

The company is fragile. Financially, the group is in a difficult situation with a high leverage estimated at 3x for the current year. Sales forecasts are not encouraging and analysts have largely downgraded their revenues and earnings per share estimates, reflecting the lack of visibility on the activity.

From a technical viewpoint, prices are in a downward trend. Moving averages are trending down on all time scales and put pressure on the stock, which confirms this downward momentum. This trend may continue toward EUR 31.35.

Investors could take a short position to target the EUR 31.35. A stop loss is placed above the entry points, protecting from a bullish reversal.