The biopharmaceutical company could resume its bullish trend.

According to Surperformance ratings, the group has strong fundamentals, both in terms of business predictability and valuation. Sales have continuously increased since 2009, +60%, and are expected to rise of 10% this year. In addition, analysts have been revising upward its earnings estimates and nowadays expect a profit of USD 3.44 per share for the current year. At last, P/E ratio of 14.4 shows interesting valuation levels for the sector and confirms the share price appreciation potential.

On a technical viewpoint, Shire shows a bullish configuration in the medium and long term. The last consolidation phase has brought back the stock near its GBp 2997 support line. Nonetheless, the share could rapidly reach its GBp 3210 resistance. Moreover, weekly moving averages are well-oriented and support this upward potential.

Active investors could take a long position aiming firstly for the GBp 3210 resistance and then at the GBp 3439 target. A stop loss will be fixed below the entry point to limit risks.