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Gentex Bullish Moving Average Crossover Alert (GNTX)

Published on Tue, 01/29/2013 - 12:13
By Mallory Stone

Gentex (NASDAQ:GNTX) shares have crossed bullishly above their 10-day moving average of $19.14 on a volume of 2.5 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher 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.

Over the past year, Gentex has traded in a range of $14.38 to $35.35 and is now at $19.59, 36% above that low. The 200-day and 50-day moving averages have moved 0.41% lower and 0.60% higher over the past week, respectively.

Potential upside of 2.9% exists for Gentex, based on a current level of $19.59 and analysts' average consensus price target of $20.17. The stock should discover initial support at its 200-day moving average (MA) of $19.23 and subsequent support at its 50-day MA of $18.23.

By Mallory Stone