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3 Tech Stocks Under $10 to Watch

Novatel Wireless

Novatel Wireless (NVTL) is a provider of wireless broadband access solutions for the worldwide mobile communications market. This stock closed up 5.5% to $3.63 on Thursday.

Thursday's Range: $3.36-$3.66
52-Week Range: $1.17-$3.71
Volume: 438,000
Three-Month Average Volume: 293,777

>>Beat the S&P With 5 Stock Everyone Else Hates

From a technical perspective, NVTL bounced sharply higher here with above-average volume. This stock has been uptrending strong for the last month, with shares soaring higher from its low of $2.20 to its recent high of $3.71. During that move, besides one super spike down to $2.85, shares of NVTL have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of NVTL within range of triggering a major breakout trade. That trade will hit if NVTL manages to take out its 52-week high at $3.71 with high volume.

Traders should now look for long-biased trades in NVTL as long as it's trending above some key near-term support at $3.20 and then once it sustains a move or close above its 52-week high at $3.71 with volume that hits near or above 293,777 shares. If that breakout triggers soon, then NVTL will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $4.42 to $5.50.

Emcore

Emcore (EMKR) is a provider of compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite and terrestrial solar power markets. This stock closed up 3.5% to $3.51 on Thursday.

Thursday's Range: $3.40-$3.56
52-Week Range: $3.32-$6.75
Volume: 215,000
Three-Month Average Volume: 292,175

>>5 Rocket Stock to Buy in June

From a technical perspective, EMKR bounced notably higher here right above some near-term support at $3.34 with decent upside volume. This stock had been downtrending badly for the last four months, with shares dropping from its high of $6.75 to its recent low of $3.32. During that downtrend, shares of EMKR were making mostly lower highs and lower lows, which is bearish technical price action. That said, shares of EMKR have now formed a double bottom chart pattern at $3.32 to $3.34 and the downtrend volatility has stopped. If EMKR can hold that double bottom, then this stock could be setting up for a sharp move higher.

Stock quotes in this article: MERU, EMRK, NVTL 

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