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

The economic and financial situation of the company is still strong. Estimated sales from Thomson Reuters consensus are encouraging. Moreover, positive revisions of estimated EPS are one more argument to buy the stock.

Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In weekly data, 20-week moving average helps the stock to keep its uptrend. Moreover, the recent breakout of the GBp 1560 will help the stock to reach the GBp 1700.

Thanks to these good indicators, it seems relevant to open a long position in Mondi at current prices. The target price is the GBp 1700 resistance. A stop loss will be set under the 20-day moving average because a breakdown of this level would damage technical pattern.