Dechra Pharmaceuticals could regain its upward trend after having ran out of steam.

According to Surperformance ratings, the group has strong fundamentals, both in terms of business predictability and valuation. In addition, analysts have been revising upward their earnings estimates and nowadays expect a profit of GBp 29.35 per share for the current year.

Dechra Pharmaceuticals is in an uptrend in the medium and long term, although, the last bearish movement has throw the stock back near a major support level (GBp 1074). This threshold, if preserved, will enable the equity to take advantage of a bullish movement.

The decline observed in the short term offers an interesting entry point for a mid-term trading strategy. Thus, investors could take advantage of the current prices level to buy Dechra Pharmaceuticals. The target will be set at GBp 1157 and by extension GBp 1228. The stop-loss will be triggered below the GBp 1074 support at GBp 1045.