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MicroVision ( MVIS) develops high-resolution miniature laser display and imaging engines based upon its PicoP display engine technology. This stock is trading up 8.5% to $2.79 in recent trading.

Today's Range: $2.72-$3.08

52-Week Range: $2.28-$13.76

Volume: 404,000

Three-Month Average Volume: 251,647

>>5 Stocks Under $10 Poised to Move Higher

Shares of MVIS are ripping higher today after the company said it signed a definitive agreement with Pioneer Corporation to manufacture, distribute, license and supply MicroVision's HD PicoP Gen2 display engine technology using direct green lasers.

From a technical perspective, MVIS is ripping notably higher today on above average volume. This move is quickly pushing the stock within range of triggering a near-term breakout trade. That trade will hit once MVIS takes out $3.08 with high-volume. At last check, volume is strong today and MVIS has hit a daily high of $3.08, but has since then pulled back to around $2.80.

Traders should now consider long-biased trades if MVIS can close near or above $3.08 with volume. If we get that action soon, look for MVIS to make a run at its 50-day moving average of $3.38 or possibly much higher.

I would avoid long trades in MVIS if the stock closes near or below today's low of $2.72.

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