4 Stocks Under $5 Moving Higher

Microvision

Microvision (MVIS) is engaged in the development high-resolution miniature laser display and imaging engines based upon its proprietary PicoP display engine technology. This stock is trading up 1% to $2.40 in recent trading.

Today's Range: $2.40-$2.49

52-Week Range: $1.11-$6.80

Volume: 53,000

Three-Month Average Volume: 285,737

From a technical perspective, MVIS is starting to bounce higher here right off its 50-day moving average of $2.37 with very light volume. This move is quickly pushing MVIS within range of triggering a near-term breakout trade. That trade will hit once MVIS manages to take out some near-term overhead resistance levels at $2.54 to $2.83, and then above more resistance at $2.94 to $3.11 with high volume.

Traders should now look for long-biased trades in MVIS as long as it's trending above $2.54, and then once it sustains a move or close above the rest of those breakout levels with volume that hits near or above 285,737 shares. If that breakout triggers soon, then MVIS will setup to re-test or possibly take out its next major overhead resistance levels at $3.40 to $3.63.

To see more stocks under-$10 that are making notable moves higher today, check out the Stocks Under-$10 Moving Higher portfolio on Stockpickr.

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

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.

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