The German group that operates through the name DHL is ready for a new rally toward the upper side of its trading range.

Regarding financial data, the company outperformed in 2013 with earnings above estimates by 12%. In fact, the courier specialist made €2.1 billion while only €1.6 billion in 2012. Moreover, DHL benefits from a fair valuation as its P/E ratio represents 15 times estimated benefits for 2014 and its enterprise value to EBITDA is equal to 7.1x. Furthermore, its yield is anticipated at 3.28% for 2014 and 3.64% for 2015.

The equity has been trading in a flat €26/27.4 range. Nevertheless, prices are still fluctuating inside the bullish channel, which suggests that positive movements are meant to be held at least in the short term. The recent approach toward the short term support and the bottom ascending trendline could act as stepping stone for a bullish reversal aiming the €27.4 resistance.

Hence, long positions could be opened at current prices having as main target the €27.4. However, a stop-loss might be considered under €26 for avoiding a bearish overflow.