Lindsay Corporation, after running out of steam, can resume now its bullish trend.

Fundamentals of the company are still good. Indeed, analysts from Thomson Reuters revised upward EPS estimates for this year, from USD 3.35 at the beginning of 2012 to USD 4.86 today. Moreover, sales are expected to rise by more than 16% in 2013.

The security is in an uptrend in the medium and long term, but the last bullish movement has been stopped by the USD 94.55 long term resistance, and prices came back to the USD 81.35 support, level corresponding to the 100-day moving average. Furthermore, technical indicators show an oversold situation. This threshold, if preserved, will enable the stock to bounce towards the USD 87.75.

The decline observed in the short term offers an interesting entry point for a mid-term investment. Investors will take advantage of the current area to buy Lindsay Corporation. The objectives will be set at USD 87.75 and by extension USD 94.55. The stop loss will be triggered below the USD 81.35 support.