The share seems to be running out of steams close to its resistance level.

From a fundamental viewpoint, the company is strong. Superformance ratings highlight its qualities in terms of growth, profitability and sound finances. However, the group appears overvalued as suggested by its P/E ratio at 51.2 for 2015 estimates. Moreover, the average target price from analysts following the company offers no potential of prices progression.

Technically, the security seems to run out of steam close to the USD 60.3 resistance. Indeed, the stock is moving in an upward trend in the short term but this level seems to have stopped the rise of prices. In this context, the downward movement could improve a return to USD 54.4 can be expected. Indicators that show an overbought situation confirm this scenario.

Therefore, the proximity of the resistance suggests a consolidation or a correction phase in the coming sessions. The most offensive will open a short position close to USD 60.3 to target a return on the USD 54.4 support. It should protect the position with a stop loss set above USD 62.2.