Norbord continues its bullish trend in order to test new highest level.

The company’s fundamentals are still strong. Sales are up 17.1% for one year. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates.

Technically, the stock is in an uptrend on all time scales and it is supported by moving averages. A breakout of the upper line in the rising wedge is occurred and the bullish trend will not be stopped until prices reach the CAD 40 level.

Thanks to these good indicators, it seems relevant to take a long position in Norbord at the current price. The target price is the CAD 40 level. A stop loss will be set under the CAD 33.2 pivot point.