Mullen Group shows a strong performance for several trading sessions.

From a fundamental viewpoint, despite a high valuation, analysts polled by Thomson Reuters have regularly revised upward the earning per share estimates. Consequently, profitability is improving, showing a relatively good financial health of the company.

From a technical viewpoint, prices are well oriented in a bullish trend on different time scales. This positive trend is supported by the trendline and the 20 and 50-day moving average.

Exceeding the technical line of CAD 23.55 would point to ambitious upward targets. In this case, market participants could buy this stock with an initial target of CAD 26. If investors reduce long-side exposure for profit-taking, a bearish trend would happen below CAD 23.3 and so this strategy would be invalidated.