The upward trend could come to support Beacon Roofing Supply in the coming sessions.

The group enjoys upward revisions in earnings per share and growth prospects. Indeed, the Thomson Reuters consensus expect sales to grow for the fiscal year at $1.8 billion against $1.6 billion for the previous year.

Graphically, buyer flows are reduced. If the trend is now neutral in the short term, profit taking is part of a rebound on the USD 25.5 and therefore does not affect the upward trend in the medium and long term.

Consequently, we expect a decline toward the 100 and 50-day moving averages at USD 25.5. The most active investors can buy the share in this area and target a return toward USD 27.6. A stop loss can be placed under the USD 24.8 support.