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

From a fundamental viewpoint, earnings may decrease by 11% in spite of a substantial increase in sales. According to financial statements, its insurance segment severely squeezed in 2013 and the worst performer region was North America. In addition, deteriorated margins are anticipated for 2014. Company's yield remain unattractive as it only offers 0.12% according to estimates and its valuation ratio of 3.7x shows how overvalued the group is compared to its business activity.

Technically, the stock loses its momentum. The bullish wave could soon be reversed into a bearish one due to the approach close to the EUR 10.9 resistance level. Already tested in the past, this key level won't allow a further rally in prices to take place. Although weekly moving averages remain well oriented, in daily data they argue for prices to meet them at lower levels. In the short-term the timing appears to agree with a downturn in prices as the stock went in overbought territory.

Therefore, most offensive investors can benefit from the technical configuration to get short on ING. The target will be fixed close to the EUR 10.15 support and a stop loss could be set above EUR 11.3.