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TheStreet Open House

4 Hot Stocks to Trade (or Not)

Stocks in this article: FASTFDODRENUS

Nu Skin Enterprises

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Nearest Resistance: $80
Nearest Support: $62.50
Catalyst: Guidance Boost

>>3 Big Stocks on Traders' Radars

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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Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Jonas Elmerraji, CMT, is a senior market analyst at Agora Financial in Baltimore and a contributor to TheStreet. Before that, he managed a portfolio of stocks for an investment advisory returned 15% in 2008. He has been featured in Forbes , Investor's Business Daily, and on CNBC.com. Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation.

Follow Jonas on Twitter @JonasElmerraji

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