On Tuesday, Himax Technologies reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 92, up from 89 the day before.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's unique RS Rating measures market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research shows that the best stocks often have an RS Rating of above 80 at the beginning of a new run.
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Himax Technologies Stock run up then fell hard recently. See if the stock can form a pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average. With earnings due, it can be risky.
Himax Technologies Stock posted 1,043% EPS growth last quarter, while sales growth came in at 75%. Keep an eye out for the company's next round of numbers on or around Jan. 25.
The company holds the No. 10 rank among its peers in the Electronics-Semiconductor Fabless industry group. Advanced Micro Devices, Alpha & Omega Semiconductor and Marvell Technology are among the top 5 highly rated stocks within the group.
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