Sixt should continues its bullish trend in order to test new highest level.

The company’s fundamentals are strong. Sales are expected to be slightly up in 2013 and 2014 while profits are in a sharp growth. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates.

Technical patterns are well oriented and prices are up for several months. The movement should continue in the coming trading sessions with a general upward trend in all time scales. The 20-day moving average should help to cross the EUR 24.3 long term resistance. In this case, new tops are expected with a target price at EUR 25.5.

Investors should open a long position at the crossing of the EUR 24.3 resistance to target EUR 25.5. A stop loss should be set below the entry point once the trade is open.