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

The company shows strong fundamentals. Firstly, the high valuation of the group shows a great investors confidence in it because there are willing to pay a high price for the stock. Moreover, analysts revised upward EPS estimates for several months and that let see a great upward 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, a short term support and a trendline. The bullish trend will not be stopped until prices are above the USD 24 area. This trend should allow the stock to reach its USD 26 daily resistance, which will be the main target price.

According to both technical and fundamental elements, it seems opportune to take a long position at the current price. The bullish trend should allow the security to reach the USD 26 resistance. If the stock crosses it, a new target price will be set. A stop loss will be placed under the USD 24.3 short term support to avoid a downtrend.