The share is very likely to re-test a relevant resistance.

Fundamentals are good. Sales will continue to increase in the following years. Earnings per share are expected to rise of 20%, according to Thomson Reuters’ consensus.

On the chart we see that the stock recently started a technical rebound. It should lead the share toward the USD 63.50 short term resistance. The security consolidated lonely in the USD 55 / 59.7 range. In this configuration, it is likely that the stock test once again its short term resistance. Investors could take a long position at current prices and target the area of this technical threshold as a first target. A stop loss will be set at USD 60.8.

At the publication date, the company Surperformance, 4-traders.com editors, has a position of 160 shares, bought at USD 56.63