HIMAX (HIMX) bullish accumulation for Google Glass hopes
Google 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.
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.
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