[Opening Position in Himax Technologies (HIMX)]
Dear Member:
Himax Technologies (HIMX) recently broke above an area of resistance. With a relatively low P/E (around 9.86), a pretty good price to book value ratio, and a recent positive earnings surprise, HIMX looks as though it may be ready to move. The company's principal products are display drivers for large TFT-LCD panels used in televisions, desktop monitors and notebook computers.
I like the stock at an entry limit of $5.70 and an initial stop around $5.40. As an aside,
DISCLOSURE: At the time of publication, I have no position in HIMX or any of its options.
Sincerely,
Bill Kraft
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