LogMeIn bullish trend continues and the security is likely to reach a new highest level.

The company’s fundamentals are still strong. Sales are up +32.8% for this year. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates. The last EPS was at USD -0.32, while the expected for 2014 is 0.24.

Technically, the security is in an uptrend on all time scales and it is supported by moving averages. Prices have recently crossed the pivot point at USD 48.25 which should support the upward movement. The bullish trend will not be stopped until prices are above the USD 47.05 short term support. This trend should allow the stock to reach its USD 57.15 long term resistance, which will be the first target price.

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 USD 57.15 resistance in weekly data. A stop-loss will be placed under the USD 48.25 pivot point to avoid a downtrend.