Gerresheimer, a german specialist in advanced glass and plastic products, continues its bullish trend (+53% YTD) in order to test new highest level.

The company shows strong fundamentals according to Surperformance ratings. Sales are up +6.8% for this year at EUR 1.3 billion. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates. The last EPS was at EUR 2.11.

From a technical viewpoint, the security is trading in a bullish trend in the short and the long term. Increasing moving averages let think there will be no reversal in the coming trading sessions. This growth should help to reach soon the EUR 77.8 long term resistance.

Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to open a long position after the breakout of this level (EUR 70). It will be a bullish signal for higher target price. The main target price will be the EUR 77.80 resistance with a potential of 10%. A stop loss will be placed under the EUR 66 short term support, threshold that would invalidate our trading strategy.