An under-$10 name in the recreational products complex that's trading within range of a major breakout trade is Nautilus ( NLS), whose principal business activities include designing, developing, sourcing and marketing cardiovascular and fitness products and related accessories for consumer home use, primarily in the U.S. and Canada. This stock is off to a monster start in 2012 with shares up over 70%. If you take a look at the chart for Nautilus you'll see that this stock has been uptrending strong for the last six months, with shares soaring from a low of $1.50 to a recent high of $3.10 a share. During that move, shares of Nautilus have been making mostly higher lows and higher highs, which is bullish technical price action. This stock did experience a selloff recently back below its 50-day moving average of $2.66 a share, but it has since then recovered and is now flirting with a major breakout trade. >>4 Loser Stocks Poised for Big Rebounds Market players should now look for long-biased trades in NLS if it can manage to trigger a breakout above some near-term overhead resistance levels at $3.04 to $3.10 a share with high-volume. Look for a sustained move or close above those levels on volume that's near or well above its three-month average action of 252,808 shares. On Thursday, NLS hit an intraday high of $3.10 on above average volume of 325,935 shares. If you buy this stock off of weakness and anticipate further upside, then I would simply use a stop near the 50-day moving average of $2.66 a share. I would rather play this name off of strength though since that a breakout above $3.10 will push NLS into new 52-week high territory. Some potential targets on the upside if NLS can maintain a trend above $3.04 to $3.10 with strong upside volume flows are its next significantly overhead resistance levels at$3.45 to $3.68, and possibly even $4.40 a share.