Torchmark Cap (TMK) NewsBite - TMK Moves Higher Following Upgrade

Posted: Friday, November 06, 2009 12:41 PM EDT

Torchmark Cap (TMK) was upgraded today by analysts at Citigroup and the stock is now at $42.08, up $0.74 (1.79%) on volume of 333,398 shares traded. Citigroup upgraded the stock today to Buy from Hold. Over the last 52 weeks the stock has ranged from a low of $16.16 in March to a high of $47.25 in September. Torchmark Cap stock has been showing support around $39.71 and resistance in the $42.19 range. Technical indicators for the stock are bearish and S&P gives TMK a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on TMK the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 35 range. [ABR-Seven Summits Strategic Investments NewsBite]

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