The USD 241 resistance is in line of sight.

The company’s fundamentals are still strong. Sales are estimated to be up + 22.7% for this fiscal year. Net margin is estimated to be at 27% for 2013, sign of a good financial situation. Moreover, analysts from Thomson Reuters consensus have revised largely upward their EPS estimates.

Technically, the security is in an uptrend on all time scales and it is supported by 20 and 50-day moving averages. The bullish trend will not be stopped until prices are above the USD 217.9 short term support. This trend should allow the stock to reach its USD 241 short term resistance, which will be the first target price.

According to both technical and fundamental elements, it seems opportune to take a long position at the current price. The bullish trend should allow the security to reach the USD 241 resistance. If the stock crosses it, a new target price will be set. A stop loss will be placed under the USD 217.9 short term support to avoid a downtrend.