Short-term Trading Success, Bigger-Picture Prospects for HIMX
by Mike Paulenoff
October 3, 2014 • 2:43 PM EDT
On Monday, Mike added Himax Technologies (HIMX) as a short-term trade set-up at around 9.55 and exited the following day (+5% gain) when his raised stop was hit at 10.07.
Mike re-entered the trade on Wednesday at 9.72.
While trading the short-term swings, Mike indicated on Monday why the stock meets his interest in the bigger picture in terms of both the macro and technical set-up.
He noted, "In an effort to hold equity in companies with stories that should withstand weakness in the major averages, I have been following HIMX closely of late, which is a high-tech name that manufactures integrated circuits for all of the gizmos like flat panel TVs, tablets, phones, etc, and supplies the huge and growing Asian market and manufacturers. Any company associated with China, Samsung, and Google in the high-tech gadget space-- and already has its bear phase in the rearview mirror -- should be on the front burner."
From a big-picture technical perspective, Mike noted that HIMX embarked on a powerful bull phase from the from the 0.97 low in Oct 2011 to the 16.15 high in Mar 2014, but then underwent a deep and severe correction to 5.70, which represented a 69.% retracement of the bull move.
"During the past 5 months, however, HIMX has been on the mend, and has carved out a potentially very powerful rounded base pattern that is just now triggering significant upside potential that projects to 12.00-12.80 in the upcoming weeks. The 200-day EMA has turned up, with an already sharply rising 50-day EMA nearing moving average bullish crossover territory."
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts
on
ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including
international
markets, plus key ETF component stocks in sectors like technology, mining, and banking.
Sign up for a Free 7-day Trial!
More Top Calls From Mike
Last Tuesday afternoon, hours before CAVA (Cava Group) was scheduled to report Earnings, this is what I posted for MPTrader members:CAVA reports Earnings after today's close. Approaching the news, CAVA is circling 61, a full 40% beneath its April 2026 high at 98.79, amid an unconfirmed new corrective low at 60.21 yesterday (8/10/26), leaving CAVA positioned for a "buy-the-news" setup (the opposite of a sell-the-news setup in a name that is up 30% to 40% approaching Earnings).
Good Sunday Afternoon, MPTraders! Last Thursday afternoon, ahead of AAPL's Earnings, this is what we discussed about the stock's probable price path in reaction to the news:Unless AAPL produces something extraordinary, or otherwise announces some unknown bullish catalyst, my pattern work has a very difficult time expecting anything other than a "best-case" sell-the-news scenario in reaction to Earnings. I can make a compelling argument that the upleg from the 6/26/26 low at 273.33 to the 7/29/26 ATH at 344.
XOM (Exxon Mobil)-- Back on May 19, 2026, a fellow MPTrader member requested an update on XOM. This is what we discussed at that time:My attached Daily Chart setup shows my preferred scenario calling for a near-term peak of the current upmove from the 4/17 low at 141.97 to a target zone from 162 to 165, followed by a rollover and press lower that revisits and possibly breaks the 41/7 low, which also will complete the larger corrective process from the 3/30/26 ATH at 176.41.
Pharma Update: MRK and LLYOn Wednesday (6/24/26), this is what we discussed about MRK:MRK as well, which we see on my attached Daily Chart exhbits a VERY BULLISH technical setup-- quite the opposite of beleaguered PFE. My pattern work argues that all of the price action from the 2/25/26 high at 125.14 represents a high-level bullish digestion period and pattern atop the major upleg from the May 2025 low at 73.31.
On January 2, 2026, this is what I posted about CAVA (Cava Group Casual Mediterranean Cuisine) to MPTrader members:After CAVA's meteoric climb from 29.00 in October 2023 to an ATH at 172.65 in November 2024, the stock rolled over into a relentless decline that hit its low at 43.
