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3 Tech Stocks Under $10 to Watch

MADISON, Wis. ( Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.

Stocks that are making large moves like these are favorites among short-term traders because they can jump into these names and try to capture some of that massive volatility. Stocks that are making big-percentage moves either up or down are usually in play because their sector is becoming attractive or they have a major fundamental catalyst such as a recent earnings release. Sometimes stocks making big moves have been hit with an analyst upgrade or an analyst downgrade.

>>5 Stocks Under $10 Set to Soar

Regardless of the reason behind it, when a stock makes a large-percentage move, it is often just the start of a new major trend -- a trend that can lead to huge profits. If you time your trade correctly, combining technical indicators with fundamental trends, discipline and sound money management, you will be well on your way to investment success.

With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside today.

>>5 Stocks Insiders Love Right Now

Meru Networks

Meru Networks ( MERU), together with its subsidiaries, provides virtualized wireless local area network solutions in the Americas, Europe, the Middle East, Africa and the Asia Pacific. This stock closed up 2.8% to $4.01 on Thursday.

Thursday's Range: $3.83-$4.07
52-Week Range: $1.42-$6.96
Volume: 117,000
Three-Month Average Volume: 366,658

>>3 Tech Stocks Spiking on Big Volume

From a technical perspective, MERU bounced notably higher here right above its 200-day moving average of $3.70 with lighter-than-average volume. This stock recently downtrended badly from its high of $6.96 to its low of $3.16. During that move shares of MERU were consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of MERU have started to rebound off that $3.16 low and it's now quickly moving within range of triggering a near-term breakout trade. That trade will hit if MERU manages to clear some near-term overhead resistance at $4.24 with high volume.

Traders should now look for long-biased trades in MERU as long as it's trending above its 200-day at $3.70 or above some more key support at $3.50, and then once it sustains a move or close above $4.24 with volume that hits near or above 366,658 shares. If that breakout triggers soon, then MERU will set up to re-test or possibly take out its 50-day moving average at $5.16. Any high-volume move above its 50-day will then put its next major overhead resistance levels at $5.50 to $6 into range for shares of MERU.
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