Himax Technologies (HIMX) is a semiconductor company. This article, like the previous one for Rollins Inc. (ROL), were from requests.
You can access the official website for Himax Technologies (HIMX) here. From HIMX's website:
Himax is the leading provider of semiconductor solutions dedicated to display imaging processing for consumer electronics brands worldwide. We Believe that our globally recognized design and engineering expertise, combined with our focus on customer service and close relationships with semiconductor manufacturing service providers, has contributed to our success.
Himax Technologies (HIMX) - 20 Year Chart
Since HIMX is a new company being covered, I always like to look big first. This first chart for Himax Technologies (HIMX) is a 20 year monthly candlestick chart.
Even though this is a 20 year chart, charting history begins in March 2006 - 11 years ago. This must be when HIMX became a public company.
On the chart, I placed a Fibonacci Retracement Tool to measure HIMX's current correction. It's already broke below the 61.8% Retracement Line. I then placed a Fibonacci Extension Tool on the current downtrend to calculate probable support areas. That would be the red 161.8% Target Line. The red 161.8% Target Line currently sits around the $3.29 area.
HIMX has seen increasing selling volume on its chart over the last year, which is confirmed by the MACD Histogram that is showing selling momentum that is still increasing. However, the rate of the increase seems to be slowing.
A reversal in the share price is typically not seen until a….
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