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3 Tech Stocks Under $10 to Trade: Jiayuan.com, AMD, Brightcove

Stocks in this article: DATEAMDBCOV

DELAFIELD, Wis. (Stockpickr) -- These three tech stocks moved higher on Wednesday. Here's how to trade them on Thursday.

Jiayuan.com (DATE) operates an online dating platform in the People's Republic of China. This stock closed up 5.8% to $6.91 a share in Wednesday's trading session.

Wednesday's Range: $6.52-$7.05
52-Week Range: $4.64-$9.48
Thursday's Volume: 569,000
Three-Month Average Volume: 223,846

From a technical perspective, DATE surged sharply higher here and broke out above some near-term overhead resistance at $6.78 with above-average volume. Market players should now look for a continuation move higher here in the short-term if DATE manages to clear Wednesday's high of $7.05 with strong volume.

Traders should now look for long-biased trades in DATE as long as it's trending above its 200-day at $6.28 and then once it sustains a move or close above $7.05 with volume that hits near or above 223,846 shares. If that move materializes soon, then DATE will set up to re-test or possibly take out its next major overhead resistance levels at $7.67 to $7.78 or $8.13 to $8.30.

Advanced Micro Devices (AMD) operates as a semiconductor company worldwide. This stock closed up 0.54% to $3.72 a share in Wednesday's trading session.

Wednesday's Range: $3.68-$3.74
52-Week Range: $2.26-$4.65
Thursday's Volume: 14.17 million
Three-Month Average Volume: 23.16 million

From a technical perspective, AMD trended modestly higher here with lighter-than-average volume. This move is quickly pushing shares of AMD within range of triggering a big breakout trade. That trade will hit if AMD manages to take out some near-term overhead resistance levels at $3.75 to its 200-day moving average of $3.77 with high volume.

Traders should now look for long-biased trades in AMD as long as it's trending above some near-term support levels at $3.60 or at $3.50 and then once it sustains a move or close above those breakout levels with volume that hits near or above 23.16 million shares. If that breakout hits soon, then AMD will set up to re-fill some of its previous gap-down-day zone from January that started just above $4.30.

Brightcove (BCOV) provides cloud-based solutions for publishing and distributing professional digital media. This stock closed up 1% to $9.64 a share in Wednesday's trading session.

Wednesday's Range: $9.50-$9.81
52-Week Range: $4.89-$16.25
Wednesday's Volume: 388,000
Three-Month Average Volume: 498,998

From a technical perspective, BCOV trended modestly higher here with lighter-than-average volume. This stock recently formed a double bottom chart pattern at $9.17 to $9.21. Following that bottom, shares of BCOV have started to trend higher off those support levels and it's now quickly moving within range of triggering a near-term breakout trade. That trade will hit if BCOV manages to take out Wednesday's high of $9.81 to some more key overhead resistance at $9.93 with high volume.

Traders should now look for long-biased trades in BCOV as long as its trending above some those double bottom support levels at $9.21 or at $9.17 and then once it sustains a move or close above those breakout levels with volume that hits near or above 498,998 shares. If that breakout hits soon, then BCOV will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day moving average of $11.03 to its 50-day moving average of $11.90.

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

-- Written by Roberto Pedone in Delafield, Wis.

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At the time of publication, author had no positions in stocks mentioned. Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

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