Himax Technologies Hovering At Low Of Move After Roth Capital Downgrade

Himax Technologies, Inc. (ADR) HIMX shares are trading lower by $0.07 at $6.00 in Wednesday's session.

Before the open, Roth Capital downgraded the issue from Buy to Neutral. The downgrade comes at an interesting time as the issue has fallen from its December 7 close ($7.62) all the way to the $6.00 area.

In fact, the issue has made several lows just above and below the $6.00. Today marks the 17th straight day it has made a low between $5.85 and $6.28.

From a longer-term perspective, Himax found support in this same area back in October and November of 2015, which provided the foundation for a rally to $12.00 in March 2016. Finally, the issue also found support just under the current low back in August 2015 ($5.65) and October 2015 ($5.77).