UNITE Group continues its bullish trend in order to test new highest level.

The company’s fundamentals are still strong. Reuters estimates underlines the growth potentiel of the company. Analysts have recently revised strongly upward their EPS estimates. The valuation of the company is very attractive with a P/E ratio of GBp 7.13 in 2015.

Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. The stock has recently drawn a bullish gap above GBp 530, which indicates strong buyer flows. Prices are heading towards new highest levels.

Therefore, long positions can still be opened on the security, in order to benefit from the continuous bullish movement. The target price will be set at GBp 575 and GBp 615 and a stop loss will be placed under GBp 516.5.