Aecon is Canada's largest construction company on the stock exchange. It operates mainly in Canada but also in Israel and in Ecuador for the construction of the international airport. Aecon has a range of complementary products and services, including its own building materials such as asphalt and engineering services to private contractors and municipalities.

The group call a press conference on March 6 for the announcement of its annual results. These should be marked by an increase in turnover of 8% to 2.9 billion Canadian dollars against 2.7 on the previous year. Net income is expected to almost double from 27.3 million Canadian dollars to 49.3 as a result of higher margins. The EPS will be increased to 0.54 CAD per share against 0.49 in 2010. (Thomson-Reuters source)

Technically the share shows a strong upward trend supported by the 20-days moving average. The contact of short term resistance of 12.44 CAD has resulted in a slight decline in prices, but this does not undermine the long-term trend.

Investors can open a buying position with a target in the area of 13/14 CAD. A stop loss is placed below the 50-days moving average at 11.2 USD.