The EUR 16.1 long term resistance is in line of sight.

The economic and financial situation of the company is still strong. Estimated sales from Thomson Reuters consensus are encouraging. EPS estimates from the Thomson Reuters consensus has regularly been revised upward. The financial situation is healthy with 38.8 billion pounds in cash in 2012.

Technically, the security is in an uptrend on all time scales and it is supported by moving averages. The bullish trend will not be stopped as long as prices are above the 20-day moving average. This trend should allow the stock to reach its EUR 16.1 long term resistance, which will be the first target price.

Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position at the current price. The first target price is EUR 15, level of the bullish trend line. A breakout of this level will be a new bullish signal for higher target price. A stop loss will be placed under EUR 13, corresponding to the peak of may.