The Madison Square Garden stock continues its bullish trend in order to test new highest level.

The company’s fundamentals are still strong. Sales are expected to rise by 2.6% in 2013. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates. The last EPS was at USD 1.38 and is now expected to reach USD 1.61 in 2013 (+16%). Company's profitability is also encouraging as shown by an operating margin at 17% for this year and a net margin at 9.7%.

From a technical viewpoint, the security is trading in a bullish trend on all time scale. Increasing moving averages let think there will be no reversal in the coming trading sessions. This growth should help to reach soon the USD 66.5 bullish trend line level.

Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position on crossing the short term resistance. The first target price is USD 66.5. A breakout of this level will be a new bullish signal for higher target price. A stop loss will be placed below the USD 61 pivot point, threshold that would invalidate this trading strategy.