Canfor is a Canadian integrated forest products company, which is engaged primarily in the lumber business. Listed on Toronto Stock Exchange, the company is trading in a bullish trend.

Its financial situation is encouraging, with sales expected to growth by 7% in 2014 for an increase on earnings by 53%. EPS are revised upward for the current year by Reuters analysts.

The technical pattern suggests a continuing upward trend with 20-day moving average supporting the stock price. Hence, prices may bounce towards the CAD 33.4 midterm resistance once the short term resistance breakout takes place.

As seen, investors could take a long position on Canfor at its current price in order to profit from a climbing, this until reach the target at CAD 33.4. The stop loss is fixed under the pivot point at CAD 28.8.