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

The company’s fundamentals are still strong. As underlined by its very good Surperformance ratings, the firm has sound finances, a high profitability and significant revenue growth. Analysts remain almost exclusively buyers with an average target price displaying a +9% potential. Moreover, they have largely upward revised their EPS and sales estimates.

From a technical viewpoint, the security is trading in a bullish trend in the short and the long term. With increasing moving averages we may assume there will be no reversal in the coming trading sessions. A recent pullback brought back the share near the GBp 875.7 area. This threshold is very likely to initiate a technical rebound.

Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to open a long position at the current price in order to benefit from a possible reversal. The first target price is the GBp 924 resistance. A breakout of this level will be a new bullish signal for higher target price. A stop loss will be placed under the GBp 875.7 short term support, threshold that would invalidate this trading strategy.