Freenet continues its bullish rally to test new highs.

From a fundamental viewpoint, despite a high valuation, analysts polled by Thomson Reuters have regularly revised upward the earning per share estimates. Consequently, profitability is improving year over year, showing a good financial health of the company.

Technically, prices continue to increase sharply for several month. On all time scales, the share price and moving averages are well-oriented. The security is now moving toward the mid-term resistance located at EUR 19.3 and seems able to breakout soon. This crossing would provide a strong buy signal in order to aim the trendline around EUR 20.5.

Investors could take a buy position once prices will be above the resistance. A stop loss will be positioned under EUR 18.7.