Don't Ignore This Chart!

Nautilus Does Some Heavy Lifting On Friday

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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

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Tom Bowley
About the author: co-founded Invested Central in 2004 and served as the site's Chief Market Strategist for more than 10 years. Invested Central provides stock market education and guidance for those interested in making their own financial decisions. During his tenure at Invested Central, Tom co-hosted Market Open LIVE, a national radio broadcast that covered many of the largest markets across the U.S. In addition, he has spoken at various conferences throughout the United States and Canada and has taught thousands of traders across the globe how to trade equities more wisely with an emphasis on managing risk and intermarket relationships. Learn More
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