Phoenix New Media is trading in a bullish trend and several arguments are in favor of the continuation of this trend.

The company’s fundamentals are still strong. Sales are expected to rise more than 25% for the current year. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates. The last EPS was at USD 1.31 and now expected at USD 2.9.

Technical patterns are in the green: prices are up for several months. The movement should continue in the coming trading sessions. The 20-day moving average should help to reach the USD 13.85 after the breakout of USD 12.15 (Swing effect).