Analyzing the price chart for Gentex (NASDAQ:GNTX) has revealed a potential bearish inside day candle pattern. Yesterday's price range of $18.36 and $18.75 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Gentex may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.
In the past 52 weeks, Gentex share prices have been bracketed by a low of $14.38 and a high of $35.35 and closed yesterday at $18.75, 30% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.6%.
Gentex Corporation designs, manufactures, and markets products that use electro-optic technology. The Company's product lines include automatic-dimming rearview mirrors and fire protection products. Gentex's Night Vision Safety Mirror automatically darkens to the degree required to eliminate rearview headlight glare. The Company sells its products around the world.
Gentex (NASDAQ:GNTX) is currently priced 0.7% above its average consensus analyst price target of $18.61. The stock should hit resistance at its 200-day moving average (MA) of $19.88, as well as support at its 50-day MA of $17.52.
