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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 18% at $1.89 in recent trading.

Today's Range: $1.60-$1.95

52-Week Range: $1.11-$11.04

Volume: 1.2 million

Three-Month Average Volume: 750,506

From a technical perspective, MVIS is registering a monster rip right off some recent support at $1.56 with above average volume. This move is quickly pushing MVIS within range of taking out its 50-day moving average of $2.

Traders should now look for long-biased trades as long as MVIS is trending above its 50-day with strong upside volume flows. I would consider any upside volume day that registers near or above 750,506 shares as bullish. If we get that action soon, then MVIS could easily soar back towards $2.75 and possibly even its 200-day moving average of $3.40. Keep in mind that those bullish targets can only get hit if MVIS maintains a high-volume trend above its 50-day.

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

-- Written by Roberto Pedone in Winderemere, Fla.


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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.

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