jmalone1224
Long

Dissecting HIMX Run-up

NASDAQ:HIMX   HIMAX TECHNOLOGIES INC
168 1 0
I'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.
Closed position @ 11.0
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