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

The company shows strong fundamentals. Firstly, the high valuation of the group shows a great investors confidence in it because there are ready to pay a high price for the stock. Moreover, the consensus revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.

Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In weekly data, 20-day moving average supports the stock to keep its uptrend.

Thanks to these good indicators, it seems relevant to take a long position above the GBp 556.5 resistance. The target price is the GBp 600. A stop loss will be set below the GBp 540 level.