This morning I added Pre-Paid Legal Services (PPD) to the Barchart Van Meerten New High portfolio. They underwrite and market legal service plans which provide for or reimburse a portion of legal fees incurred by members in connection with specified matters. At the present time they have over $1,500,000+ members many of who pay a monthly fee though an employee benefit deduction.

This is mainly a technical play because only minor growth in sales is expected but favorable savings in billing rate negotiations might mean a 31.00% increase in earnings.

Barchart has a 100% technical buy signal, The price has appreciated 15.58% in the past 20 trading sessions with 14 new highs. The 14 day Relative Strength Index is 73.45% and rising. The stock recently traded at 58.01 well above its 50 day moving average of 49.77.

Even though only one Wall Steed brokerage analyst follows this stock the CAPS members on Motley Fool have heard about it and vote 196 to 67 that the stock will beat the market including the All Stars who vote 55 to 27. Fool notes that all 4 articles written by the Wall Street columnists they follow have been positive.

Jim Van Meerten is an investor who writes on investing here and on Barchart Portfolio Blogs. Please leave a comment below or email JimVanMeerten@gmail.com.

Disclosure: No positions in the stock mentioned at the time of publication