The breakdown of the GBp 190.6 would open new bearish objectives for the stock.

The company, specialized in cooper extracted, has financial difficulties. The commodities are currently quoted at the low level, which has a big impact on the company earnings. The debt is growing, and is estimated to double in 2 years.

Technical analysis does not signal a trend reversal in the short term. The bearish orientation of moving averages confirms the downward scenario. We anticipate a continuation of the correction after the breakout of the GBp 190.6 support area. The objective will be set at GBp 162, thanks to the swing effect.

The most active investors could initiate a short position after the crossing of the support to take advantage of prices decline. Then, if the stock goes beyond this support, we recommend to close the trade with a stop-loss placed above the GBp 200.