Brown & Brown continues its bullish rally to test new highs.

Regarding the fundamentals, firstly, we note the increase of sales recorded over the previous year. Further, the debt is decreasing and is expected to disappear in 2013 to make place for 13.1 billion dollars of treasury.

Graphically, the security is up 25% since the 1st January. It seems able to continue this uptrend supported by moving averages and will soon test the USD 32 mid-term resistance. We anticipate a crossing of this level, given the upward orientation of the stock in the medium and long term. Above USD 32, a buy signal will be given.

Taking into account all these elements, investors could buy the stock at the current price. The target price is set above the USD 32 mid-term resistance. A stop loss will be fixed below the effective entry point.