Manulife Financial shares should experience a strong upswing in the upcoming trading sessions.

The financial services company displays solid fundamentals with an attractive valuation (Capitalization/Revenue of 0.81x for 2014). Thomson Reuters estimates underlines the business growth potential:
Sales should nearly triple from 18.6 in 2013 to 49.4 billion dollars in 2014, while EPS should rise from 1.62 to 1.80 dollars. Furthermore, the average target price of analysts consensus is CAD 24.8, which means a real trading opportunity.

Graphically, the stock is back on its solid CAD 21.07 support. This threshold was tested several times previously and proved each time its relevance by sending prices higher. Thus, the same bullish scenario is likely to occur in order to allow the security to get back to its highest level next to the CAD 23 resistance.

Therefore, it seems opportune to open a long position on the security to target CAD 23.01. A stop loss will be placed under the current support, in order to avoid losses in case of its breakdown.