shares of HIMX is retreating this week and might fall back below 10.00. However, outside of any near-term or short-term bearish correction, I think HIMX has established a bullish bias. HIMX Daily Chart 9/7(click to enlarge)Price bottom:- First thing we can see in the daily chart is a descending triangle consolidation that went from late 2014 throughout 2015. - Price did pop up late 2015 and surged early in 2016 until it tagged 12 in March/April. Confirmations:- The market is choppy, and the retracement from 12.00 was deep. - However, it did essentially respect the middle of the triangle as support, which means it respects the triangle as a price base.- Also, price bounced off a rising trendline, showing that bulls are beginning to take charge .- Finally, price has broken above the April through July correction pattern, which was something like a channel. Support for bearish correction:- It seems like price is indeed now making higher lows and higher highs.- The RSI has been swinging above 70 but back below 30, showing that momentum is still choppy although direction is developing "up".- If price retreats below 10.00, look for it to maybe extend to 9.00. - Here we will see a combination of support factors that will include the 200-day simple moving average (SMA), a rising speedline, and a previous resistance pivot that could turn into support.- Also, monitor the RSI if it stalls at 40. If it holds above 40, it might finally start to develop some bullish momentum. I think this can happen if the market also sees that HIMX has turned it around in 2016 after more than a year of "accumulation" .Failure:- A break below 7.25 would essentially break the higher lows pattern. Even a break below 8.00 would violate the bullish outlook. - Price between 8.00 and 9.00 would be in limbo. So to recap: - Watch for some bearish correction.- Look for support around 9.00. - Shelf the bullish outlook if price drops below 9.00. More so if it falls below 8.00.- A break below 7.25 signals failure of a bull market, and puts pressure back towards the 5.65-6.00 area with risk of falling lower because of the failed bullish attempt.