NEWS: Google to fund Taiwanese display maker to push Google Glass
HIMX appeared on my watchlist for the first time on April 9th. Back then there wasn’t much news coming out to get the stock up or down. But luckily I keep an eye on my stocks that have made my watchlist once. After some rumors coming out that HIMX was involved in Google Glass my interested increased. When the news suddenly came out that Google was investing in this company I rushed in to check the chart and look for a good entry point. Check out the chart below!
I got in pretty early after a big gap up in the morning. During the day I watched it mainly going sideways. I expected that it would fade a little at the end of the day as traders would be taking profits. I decided to hold it overnight as it kept it’s strength during the day. I anticipated the news to spread further and creating another gap up the next day.
I was right on! Not another big gap up as the day before, but still a nice profit in the opening. Because I had to leave my computer I decided to place a trailing stop limit order to lock in my profits in case the uptrend would stop. Eventually it topped at $7.71 and after that started going down. My trailing stop kicked in and sold my position at $7.56 with a profit of 92ct/share! After selling my position it went down more.
My tweet about this very nice trade even got mentioned on Timothy Sykes blog.
Perfect play! Check the chart from the last 2 days here and see how I played it.
