The American outsourcer principally for the pharmaceutical industry could confirm its upturn and provide investors with a good buy area.

With main operations in the States and Ireland, the international clinical researcher shows qualitative fundamentals. The company recently released better figures than estimates for the first quarter 2014. Indeed, its net revenue increased 10% in YoY comparison for earnings per share of $0.57. Additionally, its margins got improved. The company has an actual P/E ratio of only 18 times its earnings, which represents an interesting deal for those willing to buy shares of Icon. Positive news also helped analysts to increase their perspectives on the equity, thus posting out upward revisions for fiscal 2014 and 2015.

Icon, severely penalized in the past got into oversold territory close to the USD 38.7 support. Today, the equity tries to leave the support area while approaching its current resistance, but the new trend wouldn't be confirmed unless the trend line at USD 40 is broke. The 50-week moving average seems to support prices and could be the key for holding this bullish rally recently started.

According to both fundamental and technical analysis, the timing will become suitable for getting long on Icon if the trend line at USD 40 exceeded. The target will be the USD44 resistance and a stop-loss order could be placed at USD 37.9, avoiding this way, unnecessary risks.