HIMX trade ideas
HIMX Patterns, Longside lookLooks like the trade Wed was long at the open with stop just under 9 (good risk reward over bullish T-holiday w conference pres nxt week; which I missed with no pattern confirmation e.g., was the H&S & down channel going to play out to target under 8, previous HIMX Pattern chart from Tuesday... where's the next entry?).
HIMX volatility means one has to be right on the upcoming move. I'm neutral till clear beak of 11.29 or back test of 9.40's. Projected price action is black dotted line, based on FIBS, Channels & trend lines. I do think we possibly have an ABCD double going on and how it plays likely depends on any overall market structural move into Dec. The AB leg length is not clear, so one has to weigh this, in this chart it was made parallel to and equal the CD, mapped to the channel. The 'real' AB move started at the break off horizontal price accum ~ 2.73, this is also where the fib extensions originate. The trick with HIMX is (1) don't get fooled by the morning ramp, and (2) know when the real break is... this chart says the real break will be off the retest of the 9.40's. We'll see.
Dissecting HIMX Run up - chart IIIThis chart is meant to show price action forming a base and support for the underlying equity.
Notice when the %R crosses above the -80 line - it's at the bottom of the base. I noticed this AFTER drawing the bases. Which means, what you can visually see and interpret from looking at the price movement is/can be technically confirmed by the indicator - and confirmation is always a good thing.
(When this %R crosses that mark it is said that the equity has/is forming a base)*
All my unlicensed opinion*
Happy Trading - Make Your Own Luck
Dissecting HIMX Run up - chart IIThis is the same as the last HIMX chart I posted. But, I have added a pitchfork over the chart. (Notice where median line of Pitchfork meets 76% Fib. Retracement.)
*With the exception of the Accum/Dist. and OBV indicators merged over the chart and price movement.*
**Also took out Stochastics and RSI**
Dissecting HIMX Run-upI've been holding a position in $HIMX for about 2 weeks now and it's been treating me well. However, I've yet to close the position because I see a $12 price potential coming in.
So, looking at the price movement of HIMX you can clearly see a quick run-up recently, with starting at a " Buy " rating last week by Credit Suisse, and the starting rating of " Out Perform " by Northland Securities a day or two ago. These rating will draw investors in at these $8 levels, helping the case for the Longs.
Also, after price cracks the previous all time high, and closes above it with MOMO, it needs to make a bottom/support for itself to hold those new high price levels (otherwise we crash and burn back down below to previous support). And to make a bottom price will retest previous resistance (as a support level). And it's holding!!
These pullback days are good for a Long term bullish case. Do not fear them. I've put up this chart, with these technical indicators, so you can see where the price has support, where to put your stops and to see how much MOMO and strength this price movement and equity has.
HIMAX (HIMX) bullish accumulation for Google Glass hopesGoogle Glass supplier Himax Technologies - HIMX may come to the attention of investors along with the Samsung watch announcement due today and the September 10th Apple media presentation.
Buyers have tried to take over at the 6.50 level twice since June and have failed both times. Sellers are clearly overwhelming buyers above the $7 level as there are only 9 days where the low of the day is above $7.
It would seem logical that it will take several attempts to work through the supply above current prices, but once through and as we look forward to a roll-out and a possible holiday selling period, the shares could take on another strong trend and move towards the $8.50-$9.00 level.
Options premiums are very rich, so expectations are high for upside potential in HIMX. For the more conservative investor, using covered-call strategies may make the most sense to generate the highest returns with the lowest volatility. Which is to say, sell away the upside hype for HIMX by collecting premiums from speculators and let a slow-grinding rally give us the best possible return over the next four months into year end.
