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).
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