Nautilus (NLS) officially became a technical heavyweight on Friday as its stock price soared through price resistance to a fresh new 52 week high, bouncing bullishly off its rising 20 day EMA in the process. Volume supported its first very bullish gap in early August and it once again confirmed yesterday's gap and breakout session. Take a look:
The StockCharts Technical Rank (SCTR) surged above 80 as NLS has become very strong technically among its peers. If there's one negative here, it's that the volume can dry up when the stock isn't in the news and that could lead to a bit more manipulation and volatility. Still, NLS is work a look on short-term weakness.
Happy trading!
Tom
About the author:
Tom Bowley is the Chief Market Strategist of EarningsBeats.com, a company providing a research and educational platform for both investment professionals and individual investors. Tom writes a comprehensive Daily Market Report (DMR), providing guidance to EB.com members every day that the stock market is open. Tom has contributed technical expertise here at StockCharts.com since 2006 and has a fundamental background in public accounting as well, blending a unique skill set to approach the U.S. stock market.
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