4 Tech Stocks Under $10 to Trade for Breakouts

 

DELAFIELD, Wis. (Stockpickr) – As part of your daily routine as an active trader or investor, it's important to track the stocks in the market that are making the biggest percentage gains and the biggest percentage losses.

Stocks that are making large moves to the upside are favorites among short-term traders who want to capture some of that massive volatility. Stocks that are making big-percentage moves 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 with fundamental trends, discipline and sound money management, you will be well on your way to investment success.

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

MobileIron

MobileIron (MOBL) provides a purpose-built mobile IT platform that enables enterprises to secure and manage mobile applications, content and devices. This stock is trading up 1.8% to $6.49 in Tuesday's trading session.

Tuesday's Range: $6.36-$6.57
52-Week Range: $5.88-$12.96
Tuesday's Volume: 192,000
Three-Month Average Volume: 588,597

From a technical perspective, MobileIron is jumping higher here and breaking out above some near-term overhead resistance at $6.43 with lighter-than-average volume. This stock recently formed a major bottoming chart pattern, after shares found buying interest over the last two months at $5.88, $5.93 and $5.90 a share. Following that bottom, shares of MobileIron have started to trend higher and it's now moving within range of triggering a major breakout trade. That trade will trigger if this stock manages to take out some key near-term overhead resistance levels at $6.66 to $6.67 with high volume.

Traders should now look for long-biased trades in MobileIron as long as it's trending above its 20-day moving average of $6.13 and then once it sustains a move or close above those breakout levels with volume that registers near or above 588,597 shares. If that breakout hits soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $7 to $7.50. Any high-volume move above $7.50 will then give MobileIron a chance to re-fill some of its previous gap-down-day zone from April that started near $9.75.

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