WPP has showed a strong performance for several months.

From a fundamental viewpoint, analysts polled by Thomson Reuters have revised upward their earnings per share estimates. The consensus is mainly on the “buy” side (>60%). Moreover, the average target price has not been reached yet and the stock shows a +6% potential.

Graphically, the security is up 17% since the 1st January. It seems able to keep this uptrend supported by moving averages and should soon test the GBp 1611 mid-term resistance. Nevertheless, the stock is currently in an accumulation range between GBp 1513 and 1611. The share is very likely to do a pullback near the GBp 1543 pivot point. This level could be an opportune entry point.
Consequently, investors should be ready to take long positions in those price area. A first goal could be the GBp 1611 resistance, which, given the bullish trend could easily be crossed and lead to the upper trend line. A stop loss should be set at GBp 1509.