Nutreco is close to an area that might stop the downward trend.

The stock has attractive valuation levels as shown by the "enterprise Value/Sales" ratio at 0.49x on 2014 estimates. Moreover, analysts have been revising upward their benefit and sales anticipations for several months.

The area of the EUR 31 support should enable the stock to have a new bullish trend inside a large trading range EUR 31/33.5. The long term support in this area confirms its relevance. Technically, above these levels, 4-traders analysts are optimistic and count on a return toward the short and mid-term resistances.

Investors could open long positions nearby the EUR 31 support currently tested, in order to benefit from a technical rebound. The EUR 32.87 is the first goal and the EUR 33.5 EUR the next one. This strategy should be covered by a stop loss placed under the EUR 31 support at EUR 30.6.