Michael Kors Holdings continues its bullish trend in order to test new highest level.

The company’s fundamentals are still strong. Sales are expected to rise by more than 62% in 2013. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates, from USD 0.70 in January 2012 to USD 1.84 today.

The security is near the USD 58.1 short term support, level corresponding to the 20-day moving average. This configuration should help the stock to reach its USD 64.85 resistance.

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 64.85 resistance. If the stock crosses it, a new target price will be set. A stop loss will be placed under the USD 58.1 short term support to avoid a downtrend.