Harry has posted a Charts of the Day video on HIMX at TheTechTrader site noting: Himax Technologies, Inc. (HIMX) is doing wonderfully. The major trend is up. The channel is up. It broke out of a wedge on Wednesday, and popped 82 cents, or 12%, on 13.6 million shares. That’s the second biggest volume in a while. More importantly, it looks like it’s going to the top of the channel. We may see 8 3/4, maybe as high as 9 short-term.
Harry's analysis is now linked to Yahoo's HIMX summary page in the news section.
Harry's wording from there is:
"Himax Technologies Inc. (HIMX +11.90%) popped out of the wedge, or coil, that was forming on Tuesday, jumping 45 cents, or 7%, on 6.4 million shares. That's the biggest volume in five sessions. A break of the recent spike high at 7.10 should move the stock up to 7.50, and then 8.75. "
Keep in mind that HIMX will be presenting at the first of 5 investor's conferences next week. The smarter investor companies research the presenters ahead of time and buy to get in ahead of the others and to get that extra few %age points of profit. I suspect that was part of the reason behind yesterdays huge volume and move up. And, as Harry indicates, this could move the stock again today.