Whitecap Resources has overcome a significant resistance and should accelerate in the coming sessions.

Fundamentals of the Canadian oil and gas producer are strong. Surperformance ratings highlight qualities in terms of growth, profitability and upward revisions. Thus, sales are expected to more than double by 2015 to exceed CAD 900 millions. In addition, the net margin should follow a similar pattern to reach 25 % in 2015. Finally, the consensus is overwhelmingly buyer and analysts have significantly revised upwards their estimates of revenue and EPS.

Technically, the share is in a bullish configuration and has recently crossed an important resistance. This breakout should re-engage buyers. Moreover, moving averages are well oriented and support the ascension of the stock which should test new highs.

Therefore, a purchase can be considered at current price with a target at CAD 17. However, a protective stop will be placed under the entry points.