NASDAQ:GNTX grabbed my attention this weekend.
Not in gear right now to be jumping on breakouts to new highs (speaking for myself).
head and shoulder neck line breakout confirmed and tested successfully.
Hello traders, GENTEX CORP is in a bullish low volume buy configuration and we can see the formation of a hammer candle. Great possibility of going up strong towards the middle of the first median, which corresponds to the biggest selling candle and we can even go above arrival signal of acceleration of the decline.
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The main idea behind this is to use all probabilities we can to get a likely win
- The uptrend is apparent
- There has been a pullback
- The pullback is slowing and at the trendline
We then aim for a decent risk to reward of 3, or above 2 if 3 seems over ambitious.
Was busy concentrating on STAA and OSW, had tunnel vision and missed the ideal entry at 24.55, but hey.. Better late than never.. Trending on daily, low relative volume, what's not to like..
Im a little confused because usually head and shoulders this visible cause more damage than this;
But there seems to be heavy support on the weekly chart at the low 20.XXs;
My gut tells me there should be a bigger drop than that, but if we go simply by the chart, there should be a bounce at the blue line. If it does, crops below that blue line though, then...
Looking at sentiment and earning coming, my thoughts is that GNTX is going to do a double bottom, then the rest will be history (in the future, weird).
Take breakout neckline or wait pull back ... this is uptrend, so play it bullish make sense.
My thoughts, do your own DD and mitigate risk!
This Friday , befor market open( enter position on Thursday evening) , we will see Q2/18 performance for GNTX ( its NASDAQ) . I hope it doesnt bad capital investment.
During CES 2018, I was on a mission to hunt down companies that exuded a sense of advancement, foresight and trend setting. Gentex was one such company that I'd never heard of, but given their gorgeous expo display, helpful reps, consistent crowds and the shiny Land Rover sitting idly by, I had to investigate. They are an absolute market leader in rear view mirror...
$GNTX Weekly rising wedge. Strong support above 200 SMA while dips just below 50 SMA. Potential for a bearish entry around $22 - $25 range. RSI making lower and/or equal highs but, looking decent for now.
