The share is meeting an important level of resistance. We suggest to be cautious because this point could stop the bullish trend.

From a fundamental viewpoint the company appear overvalued. P/E Ratio for the current year is at 58.78x and expected at 43.07x for the next year. With a valuation ratio of 5.66x, the group appears overvalued compared to its business activity.

From a technical viewpoint, the proximity of the GBp 667 short-term resistance limits the upside potential on the stock. The uptrend in the short term could be stopped by this level and prices could decrease sharply in the coming sessions. Technical indicators also show an overbought situation that reinforces this bearish scenario. Thus, there is a higher downside potential than upside.

Therefore, the proximity of the short-term resistance suggests a consolidation or a correction phase in the coming sessions. The most offensive will open a short position in the current price area to target a return on the GBp 592.5 support and at first the downward trendline at GBp 620.
The trade should be protect with a stop loss set above GBp 686.