InvenSense (INVN) is down about 4.5% today in what appears a buying opportunity prior to a breakout. Tons of resistance exists at $8.50 a move above that level likely sends the stock up to $10 and above. As previously highlighted, the augmented reality potential from Pokemon Go could move gyroscopes into mid-tier smartphones and add a potential 500 million phones into the total addressable market. Along with that, InvenSense gets highlight margins from the IoT category that include drones and virtual reality headsets.The stock only has a market cap of $700 million and trades at around 2x forward revenue estimates. The risk/reward continues favoring the potential in the stock around $7.50 and poised for a breakout. Disclosure: Long INVN