Renishaw has still an uptrend and is going toward its highest level.

The company’s fundamentals are still strong. Sales are up 6.3% for one year. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates. The last EPS was at GBp 0.956.

Technically, the security is in an uptrend on all time scales and it is supported by moving averages. The bullish trend will not be stopped until prices are above the GBp 1720 short term support. This trend should allow the stock to reach its GBp 2060 mid-term resistance, which will be the first target price. A stop loss will be placed below the GBp 1720 level.