Last time we looked Himax Technologies Inc. $HIMX, we saw price bounce off a key rising trendline around $10.00. I noted that there will be key resistance around $12.00. In fact, price found resistance around $11.00 and fell sharply, breaking the aforementioned trendline.HIMX Daily Chart(click to enlarge)Trendline Breaks:- The daily chart shows price breaking below a rising trendline. - Also note that the RSI has clearly broken below 40, which signals loss of the 2017 bullish momentum.- Furthermore, price is breaking below the 200-day simple moving average (SMA). Bearish Target:- I think price will find support around $8.35, at the 61.8% fibonacci retracement level and near middle of a previous consolidation range. - The $8.50 level was where the bullish breakout pivoted from in late August 2017, so we should expect some buying here. - Then, let's see what happens when price rallies. - If the 9.50-10.00 area becomes resistance, we are likely looking at a bearish reversal against the 2017-rally, which puts the low around $5.00 in sight.