Santarus is trading in a bullish trend and several arguments are in favor of the continuation of this trend.
The economic and financial situation of the company is still strong. Analysts from Thomson Reuters consensus have revised largely upward their EPS and revenue estimates.
From a technical viewpoint, the security is trading in a bullish trend in the short and the long term. Increasing moving averages let think there will be no reversal in the coming trading sessions. This growth should help to cross the bullish trend line, around USD 29.
Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position above the bullish trend line. The first target price is the USD 31.5 resistance. A breakout of this level will be a new bullish signal for higher target price. A stop loss will be placed under the entry point, threshold that would invalidate this trading strategy.