Last week saw the FTSE 100 once more drag its way back through the 7,000 mark and set fresh all time highs. This is something the FTSE 250 index has being doing for some time and is now up 10% year to date. Our focus this week is to look for shares in the second-tier index that have recently set a fresh 12-month high. One third of the FTSE 250 fits the bill with a couple of interesting stocks we now discuss in more detail.

Merlin Entertainments (MERL)

Buy 455p

Target 600p

Stop Loss 385p

If you have a child of a certain age, chances are you may have experienced the delights of Merlin's offerings which include Alton Towers, Chessington World of Adventures and Legoland. The company floated on the stock market at the end of 2013 and until the end of 2014 the price had been fairly uneventful. There's now a definite uptrend with the shares hitting fresh highs at the end of last week.

(Click on chart to enlarge)

This trend started in October and is almost text book with a regular progression of higher highs and higher lows. The various sell-offs have not taken out the previous lows with this trend so that gives us a logical place to set our stop loss which is always a plus point. There was a fair bit of support around the 400p level in February this year so putting a stop beyond this level makes sense.

Great Portland Estates (GPOR)

Buy 845p

Target £10.50

Stop Loss 720p

There are quite a few real estate companies within the FTSE 250 that exhibit solid trends and Great Portland is no exception. Since 2009 the share price has risen more than six fold and every year since the price has moved out to fresh highs for this trend. The latest move extends the share price out to fresh all-time highs. The longer term trend accelerated last October, so let's take this activity as the focal point when it comes to stop losses and targets.

(Click on chart to enlarge)

The trend for Great Portland has been a steady move of higher highs and lows. There are various levels of interim support just below the share price, ranging from the 800p area down to around 730p. We will place the stop at the extreme of this level in the hope of staying in the trend as long as possible assuming it is going to continue.