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

The economic and financial situation of the company is still strong. Estimated sales from Thomson Reuters consensus are encouraging. Moreover, earnings previsions are regularly revised upward from analysts of Thomson Reuters.

Technically, the security is in an uptrend on all time scales and it is supported by moving averages. The bullish trend will not be stopped until prices are above the USD 73.8 short term support. This trend should allow the stock to reach its USD 84.9 long term resistance, after the breakout of the mid-term resistance at USD 78.65.

Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position above USD 78.65. The first target price is the USD 84.9 resistance. A stop loss will be placed under the entry point.