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Gentex Bearish Moving Average Crossover Alert (GNTX)

Published on Tue, 01/08/2013 - 12:12
By Mallory Stone

Gentex (NASDAQ:GNTX) shares have crossed bearishly below their 10-day moving average of $18.83 on a volume of 610K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

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 has overhead space with shares priced $18.39, or 1.2% below the average consensus analyst price target of $18.61. The stock should find resistance at its 200-day moving average (MA) of $19.63, as well as support at its 50-day MA of $17.79.

Gentex share prices have moved between a 52-week high of $35.35 and a 52-week low of $14.38 and are now trading 28% above that low price at $18.39 per share. The 200-day and 50-day moving averages have moved 0.48% lower and 0.61% higher over the past week, respectively.

By Mallory Stone
mstone@fnno.com

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