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After Yesterday's Rally of 1.67% Shares Could Potentially Pullback

By Amy Schwartz

Himax Technologies (NASDAQ:HIMX) traded in a range yesterday that spanned from a low of $9.02 to a high of $9.26. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $9.02 on volume of 2.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Himax Technologies has traded in a range of $5.65 to $12.00 and is now at $9.15, 62% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has risen 0.5%.

SmarTrend is tracking the current trend status for Himax Technologies and will alert subscribers who have HIMX in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders himax technologies

Ticker(s): HIMX