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It's been quite a week for
Nu Skin Enterprises (
NUS); shares of the $4.5 billion direct sales firm have rallied 21% since Monday, slingshotted higher by an increased second quarter outlook that surprised Wall Street. That increased guidance increased earnings expectations substantially, spurred on in large part by success in Asian markets. Nu Skin reports its official numbers on July 22.
From a technical standpoint, the move in NUS completes an ascending triangle that's been in play since it broke out five trading sessions ago. With supply of shares practically nonexistent above $62.50, NUS got plenty of room to run higher. After yesterday's small correction, I'd recommend waiting for shares to find some semblance of support again before taking a position.
To see these stocks in action, check out the at
Most-Active Stocks portfolio on Stockpickr.
-- Written by Jonas Elmerraji in Baltimore.
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