Himax (HIMX) had a strong pushing in August when price broke above a consolidation range. Price charged up to the 2016 high around 12.00, but HIMX retreated sharply last week after coming up to the critical resistance. Himax (HIMX) Daily Chart(click to enlarge)9-9.70, RSI@40:- The 9 and 9.70 levels represent the resistance pivots, which now should be seen as potential support levels.- We should also wait for the RSI to approach 40. - I think even if HIMX is done with the bullish trend in 2017, there could be upside from 9.00 back towards 12.00. - We can put a stop below 8.50. - Therefore, entry closer to 9.00, instead of 9.70 would be ideal from the perspective of reward to risk. - A break below 8.50 opens up 7.50 and would invalidate a bullish outlook signaled in August. - If price does hold above 9.00 and returns to 12.00, the potential of a bullish break would be strong.- A break above 12 would be open up 13.00, and even the 2014 highs around 16.00.