UniFirst continues its bullish rally to test new highs.
From a fundamental viewpoint, the group is in a good financial situation. Sales are expected to rise by 7.6% on the current year. Analysts widely revised upward in recent times their earnings per share estimates, which is a reliable indicator reflecting the company is healthy.
Graphically, the security is up 23% since the 1st January. It seems able to continue this uptrend supported by moving averages and will soon test the USD 92.35 short-term resistance. We anticipate a crossing of this level, given the upward orientation of the stock in the medium and long term. Above USD 92.35, a buy signal will be given.
Exceeding the technical line at USD 92.35 in daily closing would point to ambitious upward targets. In this case, market participants could buy this stock with an initial target of USD 102. A stop loss must be placed below the effective entry point.
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States. The Company operates through five segments: The U.S. and Canadian Rental and Cleaning, Manufacturing (MFG), Specialty Garments Rental and Cleaning (Specialty Garments), First Aid and Corporate. The U.S. and Canadian Rental and Cleaning segment purchases, rents, cleans, delivers, and sells, uniforms and protective clothing and non-garment items in the United States and Canada. The MFG segment designs and manufactures uniforms and non-garment items primarily for the purpose of providing these goods to the United States and Canadian Rental and Cleaning segment. The Specialty Garments segment purchases, rents, cleans, delivers, and sells, specialty garments and non-garment items primarily for nuclear and cleanroom applications and provides cleanroom cleaning services at limited customer locations. The First Aid segment sells first aid cabinet services and other safety supplies.
UNIFIRST CORPORATION 
