After being downgraded by Investec to "Hold" from "Buy", on the 11th march, the Anite' stock collapsed by almost 30%, and is now back to a significant support level.

Despite this downgrade, the company still have good fundamentals. Indeed, sales estimates for the coming years are encouraging (+43% between 2012 and 2015). Further, analysts from Thomson Reuters have regularly revised upward their earnings per share estimates for 2013. Eventually, the firm has GBP 16.9 million in cash this year.

From a graphical point of view, the trend is bullish in the medium and long term, but is bearish in the short term. Prices are now back to the GBp 111 medium term support, corresponding to the 100-week moving average and a bullish trend line. These elements argue in favor of a resume of the uptrend towards the GBp 134.1 resistance.

Thus, most active investors can take a long position at the current price. The first objective will be a comeback to GBp 134.1. A stop loss must be fixed below the GBp 114.3 short term support in order to avoid a downtrend.