Cable and Wireless Communications could reach its GBp 60 resistance.

The company shows strong fundamentals. The consensus revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.

Technically, the security is in an uptrend on all time scales and it is supported by moving averages. This trend should allow the stock to reach its GBp 60 short term resistance, which will be the first target price. Moreover, this scenario is confirmed by the pivot point crossing at GBp 56.4.

Therefore, taking into account the strong fundamentals and technical patterns, it seems opportune to take a long position at the current price in order to benefit from a possible continuity. The first target price is the GBp 60 resistance. A breakout of this level will be a new bullish signal for higher target price. A stop loss will be placed under the GBp 56.4 short term pivot point, threshold that would invalidate this trading strategy.