Covance could exceed the symbolic threshold of USD 84.30.

From a fundamental viewpoint, the group is in a good financial situation. The group has a positive treasury, sign of a healthy situation. Moreover, analysts from the Thomson Reuters consensus have revised upward their EPS and revenue estimates for 2013 and 2014.

Technically, the stock is moving in an upward trend for many weeks. This movement reflects a buyer enthusiasm confirmed also by the well orientation of the moving averages. The security is going toward USD 84.3 and would give a strong buying signal if the crossing is confirmed in daily closing.

Exceeding the technical line at USD 84.3 would point to ambitious upward targets. In this case, market participants could buy this stock with an initial target of USD 88.7, corresponding to the next pivot point. A stop loss should be placed bellow the entry point.