A shocking name is rallying

Talk about shocking news. Taser international sent shockwaves across the market this week, posting 15 percent gains in the past five trading sessions alone.

The move was sparked by a confluence of good news, including some positive remarks from JPMorgan Chase and the announcement that New York Police Department will begin equipping a small number of officers with wearable video camera made by the company.

So could Taser be a good protection play for your portfolio?

"Taser has pushed up substantially during the month of August, but it now looks like it's considerably overbought," said Prime Execution's Steven Pytlar. "It's reaching an area of resistance around $18 per share."

Pytlar suggested investors take a wait and see approach to the stock, as the technicals are setting up for a consolidation phase. "We're waiting for a bit of a shakeout before we buy."

On the other hand, Erin Gibbs of S&P Capital IQ said Taser has solid growth potential. Specifically because of the company's new wearable technology that is being increasingly used by police.

"We like Taser here," she said. "They are already growing at about 20 percent revenue growth year-over-year, they are trading at six times revenues. I could see this stock going up."

Check out the video above for the full discussion on Friday's episode of CNBC "Street Signs."

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