The USD 52.6 support area, currently tested, might facilitate a technical rebound. The company’s fundamentals could validate this scenario.

Fundamentally, the firm enjoys an excellent “Investor” rating which underlines the sound finances, the profitability and the revenue growth. EPS and sales estimates have been upward revised by analysts, whose average target price is displaying a +20% potential. In addition, financial forecasts are encouraging.

Technically, the share keeps a bullish momentum on the long run and in the medium term. In the short term a consolidation stage has led the stock near the USD 54.8 support. This level match with the rising lower trend line and 50 week MA. Thus, a technical rebound is very likely to take place.

Consequently, investors may open a long position at current prices and target a reversal toward the USD 59.1 resistance. A stop loss order should be set at USD 53.9.