International Rectifier is still well oriented and is going to new highs.

From a fundamental viewpoint, despite a high valuation, the group is attractive with an important treasury, sign of a healthy situation.

For several months, the stock has initiated a sharp bullish trend. The move could be continued and should help the stock to cross the USD 25.5 resistance, supported by the 20-day moving average.

Taking into account all these elements, investors could buy the stock above the USD 25.5 resistance. The target price is set around the USD 28.05, corresponding to an important level of 2011. A stop loss will be fixed below the entry point, threshold that would invalidate the strategy.