The share is meeting an important level. We suggest caution because this point could stop the bullish trend.

From a fundamental viewpoint, firstly, we note the high valuation of the company. With a Price Earning ratio of 15.24x, the group appears overvalued compared to its business activity. Analysts have also revised downward the EPS forecasts during the past months.

Graphically, the stock went through a period of rebound in recent sessions towards the EUR 9.6 medium-term resistance. The share should consolidate near this area. It could act as a stopping point of the upward movement. This scenario suggests a return to the EUR 9.1 support area which will be a bearish objective.

The upside seems limited as shown by fundamentals and technical configuration. In contact with the EUR 9.6 resistance, a movement of consolidation could return the stock towards the EUR 9.1 mid-term support. As a result, the most aggressive investors could take a short position near EUR 9.6 but they need to set a stop loss above the recent highs.