BreakOut Alert Update: Torchmark Corporation (TMK – NYSE)

– James F. Taulman, former Editor-in-Chief of the first independently licensed website to offer stock reports and services based on the CAN SLIM® investment system.

#1 Torchmark Corporation (TMK – NYSE), through its subsidiaries, provides various life and health insurance products, and annuities in the United States, Canada, and New Zealand.

SYMBOL
PROFIT/
LOSS
ADDED TO
WATCH LIST
BREAKOUT
DATE
BUY
PRICE
TMK +2.59% 01-26-16 02-13-17 $75.17

Chart courtesy of stockcharts.com

2/18 UPDATE: This stock broke out for us on Monday as it traded above its TRIGGER PRICE which was posted in that morning’s Stock WatchList Morning Update of $75.15.

From there, shares continued to inch higher – and like the broader market – notched new all-time highs. Volume however lacked conviction on the advance, and this is a bit of a concern.

The stock’s ranks remain strong and the company’s fundamental history is solid, the technical action is fine with the aforementioned caveat of the lack of volume.

Shares do remain above what is near-coinciding support of the highs of the previous base and the 50-day moving average which is currently at $74.27.

Below there we have a 3rd area of support at the lows of the previous base.

Any above average volume declines would of course be the first concern, and a break of support a SELL signal.

As regular readers know, early each market morning I diligently screen through hundreds of high EPS and RS ranked stocks that have solid fundamentals.

I am looking for those select few that are setting up in bullish technical bases that are poised to breakout that day.

I now include those in my new morning report- James Taulman’s Morning Market Update which is offered complimentary to subscribers.

Every issue contains a concise market commentary, educational points, and several leading stocks which are personally selected by me that look the most poised to break out that day.

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Any questions or concerns, please email me at james@jamestaulman.com.