After a rebound without fundamental improvements, the security might have a new bearish trend toward the GBp 2244 support area.
In a fundamental viewpoint, EPS have been largely downgraded from analysts this year. This situation could feed some profit taking in the short run.
From a technical viewpoint, the security is in a bearish trend in the long and mid-term, even if prices have increased in the short term. The current technical rebound allows the stock to be in contact to its GBp 2459 resistance. Moreover, prices are still under the 100-hour moving average and it applies pressure on the stock. This situation could leads to some profit takings towards the GBp 2244 support area.
Investors can anticipate a return toward the support area in the coming trading sessions. They can take a short position in Intertek Group. The target price is fixed on the mid-term support at GBp 2244. A stop loss order could be placed above the GBp 2459 resistance area.