Metro continues its bullish trend in order to test new highest level.

From a fundamental viewpoint, the company is strong. It has a reasonable valuation with an "EV/Sales" ratio of 0.62x for this year. The Thomson Reuters consensus revised regularly upward EPS estimates of the company for the current year. The great business predictability emphasize the quality of this investment.

Technically, the security is in an uptrend on all time scales and it is supported by the 20-day moving average. The bullish trend will not be stopped until prices are above the CAD 69.50 short term support. This trend should allow the stock to reach its CAD 72.80 short term resistance, which will be the first target price.

In consequence, investors can take a long position in Metro with a first target price at CAD 72.80. This level is the short term resistance. A new bullish fluctuation could lead the security toward its highest level in case of breakout of this resistance. A stop loss will be fixed under the short term support.