The USD 107.8 support area, currently tested, might facilitate a technical rebound. The company’s fundamentals could validate this scenario.

However, analysts have revised slightly downward their earnings forecasts, the growth perspective of the company is important.
With an EPS estimated at 7.39 USD for this year and 8.43 USD for the next year, Polaris Industries is currently paid 15.36 and 13.48 times the results.

Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the USD 107.8 area should stop this trend and allow a technical rebound towards USD 124.3. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.