Uncovering Noteworthy Technical Analysis Findings for GENTEX CORP (NASDAQ:GNTX).

We've identified GENTEX CORP (NASDAQ:GNTX) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NASDAQ:GNTX for further developments.

In-Depth Technical Analysis of NASDAQ:GNTX

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Overall GNTX gets a technical rating of 7 out of 10. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

• The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
• When comparing the yearly performance of all stocks, we notice that GNTX is one of the better performing stocks in the market, outperforming 90% of all stocks. On top of that, GNTX also shows a nice and consistent pattern of rising prices.
• GNTX is one of the better performing stocks in the Automobile Components industry, it outperforms 90% of 42 stocks in the same industry.
• GNTX is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so GNTX is performing more or less in line with the market.
• In the last month GNTX has a been trading in a tight range between 31.51 and 32.87.

Check the latest full technical report of GNTX for a complete technical analysis.

Looking at the Setup

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NASDAQ:GNTX currently has a 9 as setup rating:

Besides having an excellent technical rating, GNTX also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 33.35. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 32.14, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading breakout setups.

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.