Sports Direct International is trading in a bullish trend and several arguments are in favor of the continuation of this trend.

The company shows strong fundamentals. Firstly, the high valuation of the group shows a great investors confidence in it because there are willing to pay a high price for the stock. Moreover, the consensus revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.

From a technical viewpoint, the security is trading in a bullish trend in the short and the long term. Increasing moving averages let think there will be no reversal in the coming trading sessions. This growth should help to cross soon the GBp 729 long term resistance.

Given these elements, most active investors could take a buying position above the GBp 729 resistance, to target the GBp 775, corresponding to the bullish trend line. A stop loss is placed below the entry point, threshold that would invalidate the bullish strategy.