Fielmann continues its bullish rally to test new highs.

The high levels of valuation show the interest of investors for this security and are justified by regular upward EPS revisions and growth perspectives. Moreover, the company has no debt which is an important fact for investors.

Graphically, the security is up around 25% since the 1st January. It seems able to continue this uptrend supported by moving averages and will soon test the EUR 107 mid-term resistance. We anticipate a crossing of this level, given the upward orientation of the stock in the medium and long term. Above EUR 107, a buy signal will be given with the EUR 112 as a target (swing effect).

Therefore, investors should wait for the breakout in order to buy the stock (EUR 107). Then, a stop loss should be placed at EUR 104.6 for a main goal at EUR 112.