Jenoptik could pass its EUR 10.2 resistance.

The company’s fundamentals are still strong. The company published for Q1 2013 an operating profit of EUR 10.6 million, 51% higher than estimations. Moreover, the consensus revised upward EPS and revenue estimates for this year.

Technically, the security shows a bullish configuration on all time scales. Prices are supported by the 20-day moving averages. In weekly data, 20-week moving average helps the stock to keep its uptrend. Moreover, the stock has recently crossed the bullish trend line, sign of the bullish strength.

Taking into account all these elements, investors could buy the stock at EUR 10.3. The target price is set around the EUR 11.5, near the long term resistance. A stop loss will be fixed below the EUR 10.2 short term resistance, threshold that would invalidate the strategy.