Altran Technologies could breakout the EUR 5.85 resistance in the short term.
From a fundamental viewpoint, the company is trading at a low level as shown by the ratio enterprise value/revenue at 0.66x. PER is moderate (estimated at 13.24x in 2012).
The security is in an upward trend for several months. A running out of steam has occurred with the contact of the EUR 5.85 resistance. This movement is supported by the 20-day moving average and may stop any bearish inclinations. Exceeding the EUR 5.85 resistance will indicate a buy signal with a target price in the area of EUR 6.56.
Therefore, investors could take a long position in Altran Technologies, on crossing of the EUR 5.85 mid-term resistance. The first objective will be set at EUR 6.56. A stop loss should be placed at EUR 5.36.