3 Tech Stocks Under $10 to Watch

DELAFIELD, Wis. ( Stockpickr) -- At Stockpickr, we track daily portfolios of stocks that are the biggest percentage gainers and the biggest percentage losers.

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Stocks that are making large moves like these are favorites among short-term traders because they can jump into these names and try to capture some of that massive volatility. Stocks that are making big-percentage moves either up or down are usually in play because their sector is becoming attractive or they have a major fundamental catalyst such as a recent earnings release. Sometimes stocks making big moves have been hit with an analyst upgrade or an analyst downgrade.

Regardless of the reason behind it, when a stock makes a large-percentage move, it is often just the start of a new major trend -- a trend that can lead to huge profits. If you time your trade correctly, combining technical indicators with fundamental trends, discipline and sound money management, you will be well on your way to investment success.

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With that in mind, let's take a closer look at a several stocks under $10 that are making large moves to the upside today.

Himax Technologies

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Himax Technologies ( HIMX) designs, develops and markets semiconductors that are critical components of flat panel displays. This stock closed up 9% to $6.99 in Tuesday's trading session.

Tuesday's Range: $6.42-$7.06
52-Week Range: $1.58-$8.19
Tuesday's Volume: 14.03 million
Three-Month Average Volume: 6.38 million

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From a technical perspective, HIMX bounced higher here right above some near-term support at $6.27 with heavy upside volume. This move is quickly pushing shares of HIMX within range of triggering a major breakout trade. That trade will hit if HIMX manages to take out some near-term overhead resistance levels at $7.81 to $7.85 and then once it clears its 52-week high at $8.19 with high volume.

Traders should now look for long-biased trades in HIMX as long as it's trending above support at $6.27 or above its 50-day at $5.95 and then once it sustains a move or close above those breakout levels volume that hits near or above 6.38 million shares. If that breakout triggers soon, then HIMX will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $10 to $12.

OCZ Technology

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OCZ Technology ( OCZ) provides solid state drives and memory modules for computing devices and systems. This stock closed up 7.6% to $1.98 in Tuesday's trading session.

Tuesday's Range: $1.80-$1.99
52-Week Range: $1.11-$6.05
Tuesday's Volume: 2.18 million
Three-Month Average Volume: 1.60 million

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From a technical perspective, OCZ soared higher here right above some near-term support at $1.71 with heavy upside volume. This stock has been uptrending strong for the last three months, with shares moving higher from its low of $1.16 to its recent high of $2. During that move, shares of OCZ have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of OCZ within range of triggering a major breakout trade. That trade will hit if OCZ manages to take out some near-term overhead resistance levels at $2 to $2.16 and then once it clears more past resistance at $2.28 to $2.31 with high volume.

Traders should now look for long-biased trades in OCZ as long as it's trending above some near-term support at $1.71 or its 50-day at $1.65 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.60 million shares. If that breakout hits soon, then OCZ will set up to re-test or possibly take out its next major overhead resistance levels at $2.77 to $3.

Sonus Networks

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Sonus Networks ( SONS) provides networked solutions for communications service providers and enterprises in the U.S., Europe, the Middle East, Africa, and the Asia Pacific. . This stock closed up 1% to $3.39 in Tuesday's trading session.

Tuesday's Range: $3.35-$3.42
52-Week Range: $1.36-$3.72
Thursday's Volume: 855,000
Three-Month Average Volume: 2.50 million

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From a technical perspective, SONS trended modestly higher here right above its 50-day moving average of $3.23 with lighter-than-average volume. This stock has been uptrending strong for the last three months, with shares soaring higher from its low of $1.98 to its recent high of $3.72. During that move, shares of SONS have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of SONS within range of triggering a near-term breakout trade. That trade will hit if SONS manages to take out some near-term overhead resistance levels at $3.50 to its 52-week high at $3.72 with high volume.

Traders should now look for long-biased trades in SONS as long as it's trending above its 50-day at $3.23 or above more support at $3 and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.50 million shares. If that breakout triggers soon, then SONS will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $4 to $5.

To see more stocks that are making notable moves higher today, 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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