TomPip
Long

HIMX Oversold at bottom of descending triangle

NASDAQ:HIMX   HIMAX TECHNOLOGIES INC
238 1 0
What i'm looking for with HIMX             on the week of 4th May 2015:

Technicals:
- Himax is currently at the bottom of a descending triangle .
- MACD is showing positive divergence
- RSI is also showing positive divergence.
- HIMX             initial rally to ~16.50 was about 19 degrees steep.
- HIMX             rallies inside the descending triangle were somewhere between 40-60 degrees.
- Monday May the 4th could give a signal to go long to the top of the descending triangle .

Earnings:
- Earnings have so far matched estimates, or were slightly above/below estimates.
- Most earnings misses had relatively little impact on price.

T1 May15-Jun15: 8.22, should be an easy target at only 23 degrees!
T2 May15-Dec15: 12.70, only if it breaks the descending triangle resistance
Update: Looking at the long position configuration i noticed it's too early. I expect an actual bottom between 5.70-5.90, so that SL might be too tight.
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