Was I Wrong on GNTX? (updated after earnings report)

NASDAQ:GNTX   Gentex Corporation
Turns out my first analysis of GNTX wasn't wrong... it was just part of a bigger plan.

Im Still bullish on the stock, HOWEVER, I am bullish for reasons NOT explained prior to their earnings .

Fundamentally their earnings report wasn't bad, it just missed the EPS analysist mark by 1 cent....sending GNTX down to what turns out to be a HUGE magnet level. If I would've seen it in my previous analysis, a short term (2-3) short to the level we are at now wouldn't have been a terrible idea.

Anyways, Im still long, as I have been. Up to at least 19 we go.
Comment: UPDATE: Based on earnings.

Bad first? Ok. Unfortunately I believe based on charting we could be part of weekly chart range landing us to a possibility of hitting around 16$ a share. Ouch.

Good? The level I have put has not been giving in to the bears easily. The bears got momentum after the earnings missed analysts, BUT, did the fundamental of the company change? They INCREASED sales by 5% Quarter over Quarter. Good sign. Their margins slipped quarter over quarter due to decreased sales costs not accounted with better production costs. Of course, this hurts income, and ultimately the EPS. It also repurchased over a million shares. Its PE holds below 15 with a payout ratio of less than 40%. It's a good value stock, and even pushing the income stock category. I don't see the company going anywhere soon, but may switch to better opportunities given we break the range and head towards 16$.
Comment: UPDATE: if this last red level breaks, we are headed to the bottom of our range.
Comment: UPDATE: since it broke, we are headed to a LOW of 16.40-16.00


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