One more stock that insiders are buying up here is software and programming player Immersion ( IMMR), a provider of haptic technologies that allow people to use their sense of touch when operating a variety of digital devices. Insiders are buying this stock into some modest strength here, since shares are up 17% so far in 2012. Immersion has a market cap of $169 million and an enterprise value of $116.92 million. This stock trades at premium valuation, with a forward price-to-earnings of 46.85. Its estimated growth rate for this year is -100%, and for next year it's pegged at 208.3%. This is a cash-rich company, since the total cash position on its balance sheet is $52.36 million and its total debt is zero. A beneficial owner just bought 50,000 shares, or around $262,000 worth of stock, at $5.25 per share. From a technical perspective, IMMR is currently trading above both its 50-day and 200-day moving averages, which is bullish. This stock has been trading within a tight range for the past two months with shares trending between $5.15 on the downside and $5.94 on the upside. Just recently IMMR broke out above $5.94 and hit a high of $6.11 a share. That breakout could be signaling that IMMR is getting ready to trend much higher. If you're bullish on IMMR, then I would look for long-biased trades once this stock manages to break out above $6.11 a share with high volume. Look for volume on that move that registers near or above its three-month average action of 127,814 shares. If that breakout triggers soon, then IMMR will have a great chance of re-testing and possibly taking out its next major overhead resistance level $7.12 a share. Traders can also get long IMMR off weakness as long as it continues to trend above both its 50-day and 200-day moving averages. On the flip side, I would avoid IMMR or look for short-biased trades if it fails to trigger that breakout soon, and then drops back below those key moving averages with heavy volume. If we get that action, then IMMR will setup to re-test and possibly take out its next significant support levels at $5.25 to $5.15 a share. To see more stocks with notable insider buying, check out the Stocks With Big Insider Buying portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.