Derwent London has still an uptrend and is going toward its highest level.

The company’s fundamentals are still strong. Sales are expected to be 6% up this year. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates. Also, according to Surperfomance ratings, the EPS should increase from 413 pence to 550 pence this year. The company keeps very attractive valuation levels. Moreover, analysts target price is at GBp 3030, which represents a real gain opportunity.

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 GBp 2788 short term support. This trend should allow the stock to reach its GBp 3019.8 long term resistance, which will be the first target price.

In consequence, investors can take a long position in Derwent London with a first target price at GBp 2975 then the GBp 3019.8 the long term resistance. A new bullish fluctuation could lead the security toward its highest level in case of breakout of this resistance. A stop loss will be set under the pivot point around GBp 2820.