The belgium company Delhaize has still an uptrend and is going toward its highest level.

The company’s fundamentals are still strong. Sales are expected to grow significantly this year and so the EPS. Analysts from Thomson Reuters consensus have revised largely upward their EPS estimates for the current and the next year.

Technically, the security is in an uptrend on all time scales and is supported by moving averages. The bullish trend will not be stopped until prices are above the EUR 83.15 short term pivot point. This trend should allow the stock to reach its EUR 85.55 long term resistance, which will be the first target price. In case of a breakout, the EUR 88 will be the next target (swing effect).

Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position at the current price. The first target price is the EUR 85.5 resistance. A breakout of this level will be a new bullish signal for higher target price. A stop loss will be placed under EUR 82.5.