Let's check the charts and indicators to see if they are aligned with the fundamentals that Jim likes.
In this daily bar chart of TMO, below, we can see that prices are still in an uptrend and above the rising 200-day moving average line. Since late September I have seen more and more stocks break their 200-day average lines and it is nice to find an exception. Prices retested the 200-day line in October and then rallied to stop short of the highs this month.
The daily On-Balance-Volume (OBV) line shows an uptrend until early October and then a small decline. Overall, the OBV line is positive but a decline below the late October low would give me some concern.
The trend-following Moving Average Convergence Divergence (MACD) oscillator is back above the zero line in bullish territory.
In this weekly bar chart of TMO, below, we can see that prices are above the rising 40-week moving average line.
The weekly OBV line shows a rise from June and the MACD oscillator has narrowed towards a potential upside crossover to a new go long signal.
In this Point and Figure chart of TMO, below, we can see a bullish upside price target of $280 being projected. A trade up at $250.70 is needed for a double top breakout.
Bottom line strategy: You want to pay attention to stocks that show great relative strength during market slumps as they can be the new leadership. Go long or stay long TMO risking below $220 and looking for gains to the $280-$300 area in the months ahead.