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

The company shows strong fundamentals. Firstly, the security is undervalued compared to its peers with an EV/Sales ratio estimated at 0.94x by the Thomson Reuters consensus for this year. 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 daily data, 20-day moving average helps the stock to keep its uptrend.

In consequence, investors can take a long position in EasyJet with a first target price at GBp 1087. This level is the short term resistance. A new bullish fluctuation could lead the security toward its highest level in case of breakout of this resistance. A stop loss will be fixed under the 20-day moving average around GBp 980.