Eurasia Drilling Company shows a strong performance for several trading sessions.

From a fundamental viewpoint, analysts polled by Thomson Reuters have regularly revised upward the earning per share estimates for 2012. Consequently, profitability is improving, showing a relatively good financial health of the company. Moreover, sales are expected to grow by more than 16% in 2012.

Technically, prices continue to increase sharply for several month. On all time scales, all indicators are green and moving averages are well oriented. The security is now moving toward the mid-term resistance located at USD 40 and seems able to breakout soon. This crossing would provide a strong buy signal, and the security could reach the USD 43.2.

Therefore, investors could take a long position in Eurasia Drilling Company, on crossing of the USD 40 mid-term resistance. The first objective will bet set at USD 43.2. A stop loss should be placed below the effective entry point.