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Microvision(MVIS - Get Report) develops high-resolution miniature laser display and imaging engines based upon its PicoP display engine technology. This stock is trading up 18% at $1.89 in recent trading.
Today's Range: $1.60-$1.95
52-Week Range: $1.11-$11.04
Volume: 1.2 million
Three-Month Average Volume: 750,506
From a technical perspective, MVIS is registering a monster rip right off some recent support at $1.56 with above average volume. This move is quickly pushing MVIS within range of taking out its 50-day
moving average of $2.
Traders should now look for long-biased trades as long as MVIS is trending above its 50-day with strong upside volume flows. I would consider any upside
volume day that registers near or above 750,506 shares as bullish. If we get that action soon, then MVIS could easily soar back towards $2.75 and possibly even its 200-day moving average of $3.40. Keep in mind that those bullish targets can only get hit if MVIS maintains a high-volume trend above its 50-day.
To see more stocks under-$10 that are making notable moves higher today, check out the
Stocks Under-$10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.