Alliances shares may upturn helped by the support.
The company has strong fundamentals. Sales are expected to rise by more than 20% for the current fiscal year as greater improvements are anticipated in net margins. In consequence, the EBITDA concerning the business activity should come to $1,577 million for an increase of 15% on prior period. Furthermore, revisions within the last twelve months on EPS have been positive (+4% for 2014). The consensus remains buyer overall.
Technical patterns are encouraging. The stock shows a sustained decline since several weeks, thus approaching a significant support level. This devaluation is likely to help through the process of recovery allowing prices to resume the bullish trend. Weekly moving averages are meant to hold the equity above the USD 232.3 threshold.
Considering both technical and fundamental analysis, the timing seems suitable for long position taking at current prices. The bullish trend should allow the security to reach the USD 264.1 resistance. A stop loss will be set under the support line at USD 231.4 for an invalidated bullish scenario.