Before starting this Himax Technologies (HIMX) stock chart update, I want to discuss member requests for stock updates.

I want all Trendy Stock Charts members to feel comfortable making any number of stock requests. Also, if some time has passed or if a stock is not acting as anticipated in a previous update, do not hesitate to ask for another update.

Even if it seems as if I am falling behind or have too many open member requests, please leave your request. If I ever get too backed up, I will let members know. Otherwise, it definitely helps to provide me direction as to updates members want to see.

In between member requests, I will post charts and updates for stocks that catch my eye for a potential breakout. But if you come across a stock that could be breaking out, don’t be afraid to share it! I will definitely take a quick peek and give you my thoughts!

With that being said, let’s take a quick look at HIMX’s current rebound and uptrend.

Himax Technologies (HIMX) Stock Chart Analysis

Himax Technologies (HIMX) was a member request a couple months back. Actually, right before it commenced its rebound from below the $5 price level. That rebound, which was identified with a gap-up at the beginning of its uptrend, has been a strong one with some above average buying volume.

This is a 1 year daily candlestick chart. It shows HIMX’s share price approaching some significant overhead resistance from a trendline and also a Falling Window candlestick pattern (gap-down) back in September 2016. The first re-test of the resistance area from a Falling Window candlestick usually fails to “close the window” or close the gap.

Analyzing Himax Technologies (HIMX) Stock Chart & Its Current Uptrend for Resistance Areas

Since most price advances are made with Impulse wave patterns, I sketched out a Bullish Impulse wave pattern on HIMX’s chart showing the current breakdown. The first bout of selling momentum in a new uptrend usually helps to identify the Wave 4 in a Bullish Impulse wave pattern.

Wave 5, the final leg of the current uptrend, still needs to break above the high from Wave 3. I illustrated the 2 most likely targets for the end of Wave 5. A 3rd possibility is the $10 area, a nice round number. People like round numbers. The $10 price level sits right below the Falling Window resistance area also.

If you are long shares of HIMX, consider trimming some shares above the top of Wave 3. The current repurchase area for any sold shares would be the bottom of Wave 4, or around the $8.25 area.

Good luck trading!

On deck: Exxon Mobil (XOM)