Belgacom shows a strong performance for several trading sessions.

From a fundamental viewpoint, the group is in a good financial situation (strong profitability and yield with an important business predictability). Moreover, analysts widely revised upward their earnings per share estimates recently, which is a reliable indicator reflecting the company's health.

Since several months, the stock has initiated a sharp bullish trend mainly due to strong fundamentals. The move should continue, supported by the 20-day moving average, and return to its highest price levels. Investors will now wait for a daily closing above EUR 27.5 resistance in order to open a long trade.

Consequently, exceeding the technical line at EUR 27.55 would point to ambitious upward targets. First, the EUR 28.55 computed by swing effect and then the EUR 30 psychological level.
If investors reduce long-side exposure for profit-taking, a bearish trend would happen below the 20-day moving average, so this strategy would be invalidated.