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

The company shows strong fundamentals. Firstly, the security is undervalued compared to its peers with an EV/Sales ratio estimated at 1.1 by the Thomson Reuters consensus for this year. Moreover, analysts revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.

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 20-day MA. This trend should allow the stock to reach its GBp 463.3 long term resistance, which will be the first target price.

According to both technical and fundamental elements, it seems opportune to take a long position at the breakout of the trend line currently tested. The bullish trend should allow the security to reach the GBp 463.3 resistance. If the stock crosses it, a new target price will be set. A stop loss will be placed at GBp 383.8 to avoid a downtrend.