The share EPL Oil & Gas could reach its USD 34.4 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. Moreover, sales are expected to increase by more than 70% in 2013.

Technical patterns are in the green : prices are up for several months. The movement should continue in the coming trading sessions. The short term support on which the share is coming back could help to renew the bullish trend in order to aim the USD 34.4 resistance.

In consequence, investors can take a long position in EPL Oil & Gas with a first target price at USD 34.4. This level is the long term resistance. A new bullish fluctuation could lead the security toward its highest level in case of breakout of this line. A stop loss will be fixed under the short term support at USD 31.9.