Ted Baker has still an uptrend and is going toward its highest level.

The company’s fundamentals are still strong. Sales are expected to increase by + 17.5% for this year and the company has no debt, which shows a financial stability. Analysts from Thomson Reuters consensus have revised largely upward their EPS and revenue estimates for 2013 and 2014.

Technically, the security is in an uptrend on all time scales and it is supported by 20-day moving average. The bullish trend will not be stopped until prices are above the GBp 1600 short term support. This trend should allow the stock to cross the bullish trend line and to reach the GBp 1969 resistance.

Thanks to these good indicators, it seems relevant to take a long position in Ted Baker above the Gbp 1850 bullish trend line. The target price is the GBp 1969 resistance. A stop loss will be set under the GBp 1789 pivot point because a breakdown of this level would damage technical pattern.