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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

Tom Bowley
About the author: is the Chief Market Strategist at EarningsBeats.com, where he provides stock market education, guidance, and trading strategies using a unique combination of technical, fundamental, and historical analysis. Tom provides EarningsBeats.com members with four portfolios (Model, Aggressive, Income, and Value), all designed to beat the benchmark S&P 500, and a revolving Watch List of hundreds of companies reporting strong quarterly earnings (must beat both revenue and EPS estimates) and exhibiting technical strength as well. These companies comprise EarningsBeats' annotated Strong Earnings ChartList (SECL), from which Tom trades exclusively. Tom writes a Daily Market Report (DMR) for members to include an executive summary, market outlook, sector/industry watch, and trading ideas. Learn More
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