This Himax Technologies (HIMX) stock chart review will focus on the rebound that its share price has seen over the last couple of months. Is the rebound finding ample support during its pullback? Is there a chance for a further pullback?
Hopefully the analysis will provide answers to those questions, and a few more....let's get started!
Himax Technologies (HIMX) Stock Chart Review
This first chart in this Himax Technologies (HIMX) stock chart review is an update of what might be happening from an Elliott wave perspective. I consider Elliott wave analysis as the hardest technical method to master. However, even learning some basics and how to profit from those can provide very lucrative trading opportunities.
This chart is a 2 year weekly chart where an update on the "downtrend channel test" is illustrated and explained.
Based on the results of the downtrend test, HIMX's share price appears poised…...
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I look at some pullback areas to begin building a position in the stock as well as some of its upside target prices, both short and long term.
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