ShawCor is trading in a bullish trend and several arguments argue for the continuation of this trend.

The company’s fundamentals are still strong. Sales are up + 25% for one year. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates. The last EPS was at CAD 0.78.

Technical patterns are in the green: prices are up for several months. The reversal should continue in the coming trading sessions. The 20-day moving average should help to reach the CAD 46 long term resistance.

In consequence, investors can take a long position above CAD 46 in closing price with a first target price at CAD 50. A stop loss will be fixed under the short term support at CAD 44.4.