The Persimmon company is rooted in an upward trend and the recent short term pivot point broke-out should allow a continuity.

Fundamentals show great growth potential on Persimmon joined to a sound financial situation. Sales forecasts are encouraging as suggested by the Thomson-Reuters consensus. Moreover the EPS is expected to grow by 41% in 2014 compared to 2013.

From a technical viewpoint, the stock has recently broke-out the short term pivot point at GBp 1510. This configuration should allow further acceleration toward GBp 1613. All moving averages support this upward movement. This short term pivot point will become our new short term support.

To conclude, according both fundamentals and technical configuration, investors can open a long position toward the GBp 1613 resistance. In case of breakdown of the short pivot point, positions should be cut.