Pace would take advantage of the uptrend

The fundamentals support the stock with a gradual upward revision of earnings per share by analysts. The group is still undervalued and the “enterprise value to sales” ratio shows an attractive valuation of 0.56x for the current year.

Following a bullish wave, the stock now shows a slight decline that lead towards its GBp 271.5 medium-term support. On this level, remobilization of buyer flows would allow an uptrend in the medium and long term, supported by the 100-day moving average.

In this configuration, a decrease seems unavoidable in the GBp 271.5 area. Investors could take a buy order on this level and get a good entry point to target, firstly, the GBP 292 resistance and by extension the GBp 319. A stop loss should be placed below the medium term support.