In the recent months, the earnings estimates are regularly revised upward by analysts with an EPS estimated at USD 1.58 for this year and USD 1.79 for the next year.

Moving averages are flat and technical indicators illustrate the oversold situation. The USD 45.82 area could cause a positive reaction for the coming trading sessions and allow a technical rebound towards the USD 58 mid-term resistance.

Considering technical and fundamental elements, it seems to be an appropriate timing to immediately open a long position in Manhattan Associates in order to benefit from the USD 45.82 support area. A first target price will be the USD 58 resistance, that is to say a potential of 21.7%. A stop loss order will be placed under the mid-term support currently tested. Only a crossing of USD 58 would validate a bullish trend in order to aim a higher target price.