Countrywide are the largest British estate agency group. Constituent of the FTSE 250, the share just broke the upper bullish trend line after announcing a partnership research to build a 1 billion pound fund intended to invest in rental property.

Net income is expected to surge to £72.6 million, or 39 cents per share, from £34 million, or 16 cents per share. At the same time, net margin from continuing operations should spike by 74% for the current year. Lower leverage on the company is anticipated for 2014. On the other hand, its P/E ratio is estimated to 15.7, which could be motivating for investors in long position taking.

Countrywide is at its historical highs on recent trades. Foremost, the stock broke the upper trend line lately and could accelerate its rally towards the GBp 664 target. This path is corresponds with 20 and 50-day moving averages orientation. The preeminence of a buyer position could this way be confirmed in today session.

Most active investors could take a long position at current prices, looking for a short term target at GBp 664 and then the main target at GBp 686. A stop loss will be placed under the entry point at GBp 629.8.