On February 2, Christian Dior released its results for the year ended 31 December 2011. The Group achieved sales in 2011 of 24.6 billion euros, up 17% compared to 2010. This figure takes into account the integration of Bulgari as of June 30, 2011. Organic sales growth was 14%. All activity groups experiencing excellent momentum in Europe, Asia and the United States. Operating profit amounted to 5.3 billion euros, up to 23%.

Forecasts for 2012 seem good. The group will continue its focus on the dynamism of its retail network and the excellence of its products. The growth-oriented emerging markets will continue, reinforcing its leadership in the global luxury market.

Technically the share shows a strong upward trend, supported by its 20-days moving average. Contact with major resistance of 116 EUR has interrupted the momentum but the well orientation of moving averages should allow it to start a new movement in order to aim the 125 EUR.

The objective set at 113 EUR by our analysts in January has been reached and thus allows to consider new targets. The current consolidation trend takes the form of a continuation pattern to target new highs. A stop loss is placed below 110 EUR in order to avoid disappointment.