C.A.T. oil is in a good configuration to reach its EUR 19.9 resistance.

The company’s fundamentals are still strong. Sales are up + 27.5% for one year. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates.

Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In weekly data, 20-week moving average helps the stock to keep its uptrend.

Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position at the current price. The first target price is the EUR 19.9 resistance. A breakout of this level will be a new bullish signal for higher target price. A stop loss will be placed under the EUR 16.9 short term support.