The American cloud-based software provider is in the middle of a significant recovery.

On a fundamental viewpoint, financial products revenues are expected at $505M for an increase of more than 23% for this fiscal year. Operating margins are also meant to improve for the current financial year letting the company willing to generate better operating incomes and subsequently becoming a more profitable one. Its EPS benefited from upward revisions during the last 12 months, for a 16% rise.

Technical patterns reveals buyer pressures are coming back on Ultimate shares, for the stock got oversold on March 24th session. The USD 132.3 support line have been the trigger for this positive return and now 20 and 50-day moving averages should motivate prices for getting close to the USD 153.8 resistance, completing this way the bullish movement.

Active investors could take a long position on the equity at its current price (USD 137), targeting the USD 153.8 resistance. The stop loss for this strategy will be set below the support at USD 130.8.