blinkx : The bullish trend continues
Opinion: Bullish above 148.3 GBp
Target price: 158.5 GBp
Stop loss: 144.8 GBp
blinkx is trading in a bullish trend and several arguments are in favor of the continuation of this trend.
The company’s fundamentals are still strong. Sales are expected to rise from M$ 198 to 225. Moreover, analysts from Thomson Reuters consensus have revised largely upward their EPS estimates during the year.
Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages in weekly data and a daily pivot point.
Thanks to these good indicators, it seems relevant to take a long position in blinkx at the current price. The first target price is the GBp 158.5 resistance. A stop loss will be set under the GBp 148.3, a breakdown of this level would damage technical pattern.