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

The economic and financial situation of the company is still strong. Sales are increasing and a return to profit is expected for the current year. Moreover, the Thomson Reuters consensus regularly revised regularly upward Sales and EPS estimates, proving the good dynamic on the activities. Thus, Sales estimates have increased of 27% and EPS for 2014 is now estimated at EUR 0.47; one year ago only 0.21 where expected.

Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In weekly data, 20-week moving average helps the stock to keep its uptrend. However, the stock was stopped in its progression by the EUR 16.95 resistance area. The breakout of this level will be the signal of a renewed bullish trend.

For reasons above exposed, investors could benefit from the upward trend on Nordex by opening long positions over EUR 16.95. A first target could be set at the EUR 18.5 and new bullish targets could be further reached. The return under EUR 16.4 would invalidate the recovery scenario and trigger the stop-loss order.