10/18/2017 – Himax Technologies (HIMX)
Semiconductor stocks and stocks related to the semiconductor industry have been on fire the last year. I have written about several of the stocks in this sector, including the likes of Advanced Micro Devices (AMD), Himax Technologies (HIMX) and nVidia Corporation (NVDA). Most recently I penned an article for ASML Holdings (ASML) and their new technology to help make semiconductors smaller and continue Moore's law.
I believe that Himax Technologies is still a holding for a Trendy Stock Charts member so let's get an update on the company and its share price performance.
Himax Technologies (HIMX)
This first chart for Himax Technologies (HIMX) is a 5 year monthly candlestick chart. Let's review the longer-term trend underway with this perspective.
The first item I notice is that the buying momentum is starting to slow down in October 2017 according to the MACD Histogram indicator. This is highly expected after an initial break of an overhead resistance area. Buyers usually pause to try to make sure there are not a bunch of sellers waiting for them on the resistance break.
Any pullback to the…...
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Support areas are reviewed based on a probable continued pullback. Those support areas could be used as an entry to go long the stock as its charts have some bullish action taking place.
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