The downward path seems to continue toward GBp 89.

From a fundamental viewpoint, the group is in a bad financial situation. The financial situation of the company is worrying with an important debt level. Leverage is at 3.17x for the current year. Analysts have recently downgraded their forecasts for earnings per share. This indicator is often a precursor of a declining profitability and a worsening climate of investors' confidence.

Graphically, we can see that the stock is in a bearish trend with decreasing moving averages, which serve as resistance. The security is moving towards GBp 89 in daily data, the next support area.

Investors could take a short position to target the GBp 89 support. A stop loss is placed above the GBp 112.6 level, threshold that would invalidate the bearish strategy.