Bucher Industries continues its bullish trend in order to test new highest level.

The company shows strong fundamentals. Firstly, the security is undervalued compared to its peers with an EV/Sales ratio estimated at 0.87 by the Thomson Reuters consensus for this year. Moreover, the consensus revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.

Technically, the security is in an uptrend on all time scales and it is supported by moving averages. The bullish trend will not be stopped until prices are above the CHF 216.2 short term support. This trend should allow the stock to reach its CHF 262 long term resistance, which will be the first target price. In order to benefit form a better timing we should wait for a return on the CHF 216.2 support.

According to both technical and fundamental elements, it seems opportune to take a long position around CHF 216.2. The bullish trend should allow the security to reach the CHF 262 resistance. If the stock crosses it, a new target price will be set. A stop loss will be placed under the CHF 216.2 short term support to avoid a downtrend.