Persimmon' stock is well oriented and may reach its annual high in the coming trading sessions.

The security has benefited and continue to benefit from upward revisions in earning per share estimates for 2014 (almost +30% since January). Further, the annual growth rate is estimated above 10% for the three coming years.

Graphically, the trend is bullish in the medium and long term. The stock is supported by the 20-week moving average and a bullish trend line. Thus, a long strategy can be implemented, in order to benefit from the uptrend. The timing seems perfect thanks to the proximity of the GBp 1213 short-term support and the 50-day moving average.

A long position can be opened at the current price in order to aim GBp 1305. A stop loss must be placed below the GBp 1213 short term support.