Freenet AG, listed on XETRA Frankfurt continues its bullish trend in order to test new highs.

The company’s fundamentals are still strong. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates. The last EPS was at EUR 1.12.

Technical patterns are in the green: prices are up for several months. The reversal should continue in the coming trading sessions. The 20-day moving average should help to reach the EUR 16 long term resistance.

According to both technical and fundamental elements, it seems opportune to take a long position at the current price. The bullish trend should allow the security to reach the EUR 16 resistance. If the stock crosses it, a new target price will be set. A stop loss will be placed under the EUR 13.55 short term support to avoid a downtrend.