Dechra Pharmaceuticals is trading in a bullish trend and several arguments are in favor of the continuation of this trend.

The company’s fundamentals are still strong. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates.

From a technical viewpoint, the security is trading in a bullish trend in the short and the long term. Increasing moving averages let think there will be no reversal in the coming trading sessions. This growth should help to reach soon the GBp 1225/1240 resistance area.

Thanks to these good indicators, it seems relevant to open a long trade on Dechra Pharmaceuticals at the current price. The target price is the GBp 1240 resistance. A stop loss will be set under the GBp 1178 short term support because a breakdown of this level would damage technical pattern.