Gentex Corporation is engaged in designing, developing,
manufacturing, and marketing automatic-dimming rearview mirrors and
electronics for the automotive industry; variable dimmable aircraft
windows for the aviation industry; and commercial smoke alarms and
signaling devices for the fire protection industry worldwide. The
company offers automotive products, including interior and exterior
electrochromic automatic-dimming rearview mirrors; automotive
electronics; and interior and exterior non-automatic-dimming rearview
mirrors with electronic features for automotive passenger cars, light
trucks, pick-up trucks, sport utility vehicles, and vans for original
equipment manufacturers, tier one automotive mirror manufacturers, and
various aftermarket and accessory customers.
Take a look at the 1-year chart of Gentex (NASDAQ: GNTX) with my added notations:
GNTX has been trading in a relatively tight range for the last 5
months. During that period of time the stock has formed a general
resistance “zone” around $30 (red). In addition, the stock has also
created a relatively clear level of support near $28 (blue). At some
point the stock will have to break one of the two levels created by
GNTX’s trading range.
The Tale of the Tape: GNTX has a clear level of
support at $28 and a resistance zone near $30. The possible long
positions on the stock would be either on a pullback to $28, or on a
breakout above $30. The ideal short opportunities would be on a break
below $28, or on a rally back up near $30.
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