According to analysts estimates, the company is trading, on the basis of current prices, 18.26 and 17.5 times the expected results for the next two years. Besides, the enterprise value is worth 2.15 times its sales. These valuation levels theoretically limit the potential for decline, except in case of strong downward revisions of earnings estimates of the company in the coming months.

The share has a bearish configuration below the EUR 52.5 resistance. Nevertheless, the potential drop is limited by the support area located at EUR 51.3 with two moving average (20 and 50-day). This level is tested for several trading sessions and have contained the downward trend, which reinforce their technical significance.

Considering these elements, the timing seems appropriate to buy the share. We will benefit from the support to anticipate a return at EUR 54.35. A stop loss will be set at EUR 50.6.