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3 Tech Stocks Under $5 Spiking Higher

Stocks in this article: GTATARCHIMX

Himax Technologies

Himax Technologies (HIMX) designs, develops and markets semiconductors that are critical components of flat panel displays. Its main products are display drivers for large-sized TFT-LCD panels. This stock is trading up 5.7% to $4.61 in recent trading.

Today's Range: $4.36-$4.70

52-Week Range: $1.47-$4.95

Volume: 3.09 million

Three-Month Average Volume: 1.63 million

From a technical perspective, HIMX is ripping higher here right above some near-term support at $4 with heavy upside volume. This stock has been uptrending strong for the last month, with shares moving higher from its low of $3.82 to its intraday high of $4.70. During that move, shares of HIMX have been consistently making higher lows and higher highs, which is bullish technical price action. That move is now quickly pushing shares of HIMX within range of triggering a major breakout trade. That trade will hit if HIMX manages to take out its 52-week high at $4.95 with high volume.

Traders should now look for long-biased trades in HIMX as long as it's trending above some key near-term support levels at $4.25 to $4, and then once it sustains a move or close above $4.95 with volume that hits near or above 1.63 shares. If that breakout triggers soon, then HIMX will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that breakout are $6 to $7.

GT Advanced Technologies

GT Advanced Technologies (GTAT) is a technology company with innovative crystal growth equipment and solutions for solar, LED and electronics industries. This stock is trading up 11.6% to $2.97 in recent trading.

Today's Range: $2.68-$3.02

52-Week Range: $2.61-$8.49

Volume: 4.19 million

Three-Month Average Volume: 2.90 million

From a technical perspective, GTAT is skyrocketing higher here right off some near-term support at $2.63 with heavy upside volume. This stock recently sold off hard from its near-term high of $3.94 to a low of $2.61. Following that slide, GTAT went on to put in a double bottom chart pattern at $2.61 to $2.63. Shares of GTAT have started to spike dramatically higher off that double bottom area, and it's now quickly moving within range of triggering a major breakout trade. That trade will hit if GTAT manages to take out some near-term overhead resistance levels at $2.93 to its 50-day moving average at $3.08 with high volume.

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