HIMX (Himax Technologies Inc.) was posted as a short setup on Monday, went on to trigger a short entry yesterday on a very impulsive move below the pattern (the stock was down over 11% on very high volume) and has bounced today to make a perfect kiss of the broken uptrend line today. This backtest offers another objective short entry on HIMX here around the 12.00 level. Now that we know our entry price, consider a stop above 13.50 (or lower, depending on one’s preference). T1 at 8.20 remains the sole profit at this time although an additional target(s) may be added depending on how this trade & the broad markets play out in the coming days/weeks.
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HIMX daily March 26th