End of the technical recovery.

From a fundamental viewpoint, analysts have largely revised downward their EPS expectations. This situation could feed some profit taking in the short run.

Graphically, the share evolves in a downward canal, both in daily and weekly data. Recently, shares have been in contact with the upper limit of this canal due to a period of technical rebound. This area could trigger a sell signal for investors in case of profit-taking. Then, the rallying of the USD 38.1 support area will be considered for upcoming sessions.

The technical configuration and fundamentals lead us to predict a consolidation phase, at least in the short term. The downward canal should play its full role and stop the upward trend recently initiated. Therefore, to take advantage of this technical correction, a short position may be opened in the current area to target USD 38.1. In case of further acceleration, the stop loss will be triggered above the USD 45.2.