Vopak, the Rotterdam-based provider of storage facilities mainly for oil and natural gas related products could fall below the ascending trend line.

Financials on the Dutch company are no longer helping. Sales on its principal market (Netherlands) declined 3.4% on last fiscal year. Even if higher volume of sales is anticipated for 2014 (€1,320 million versus €1,295 million in prior year) the group doesn't master its margins, which have being in a zigzag since 2008. Thus, the EBITDA may fall by 14% and reports would reflect poor quality earnings by the end of the period. In addition, spending rises degrade its capacity to face liabilities. Downward revisions on the EPS shows the weakened situation on the company as analysts reduced expectations by 30% during the ongoing year and 23% for the next one.

Technical patterns argue for a continuity of the bearish orientation. Daily and weekly moving averages draw a strengthened decline and push prices toward lower levels. The ascending trend line currently at EUR 35 will be the decisive point whether a reversal is likely to appear. In consequence, further drops under this threshold may confirm the weakened situation and EUR 32.5 may become the new target.

Active investors could therefore sell shares on Vopak once the threshold broke (under EUR 35), seeking for EUR 32.5 as main target. Nevertheless, a stop-loss will be set at EUR 36 in order to avoid several losses.