GTX trade ideas
BIG Potentail for BUY GENTEX CORP DailyHello 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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Gentex uptrend swing trade. Maxed out probabilities in our favorThe 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.
Head and shoulders; target low 20.XXsIm 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 bigger sell off and new formation of a downward channel.
My crystal ball tells me a double bottom coming GNTXLooking 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!
GNTX: A Leader, Stable & Resilient Smart Car Play; AMAT Alt IdeaDuring 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 tech and other sensor/camera/material plays that integrate into the Smart Car sector. Gentex is NOT a company you trade, nor really pay attention to unless you're an institutional player in the sector. Trend lines show steady growth with a nice, higher trend coming out of 2017 that has held for the most part in 2018, but it doesn't really matter. GNTX is a stud that I find recommending if people are fans of AMAT because of the stable, consistent trends. It won't breakout without some outstanding news, but it also won't drop hard during a period of volatility.
GNTX has an amazing market position, solid financials, competent leadership, lucrative R&D and powerful partnerships moving forward. Not a lot of coverage can be found for it, but anyone taking a peek has come to the same, humble, steady conclusion. GNTX is a good money hideout and long, LONG term investment as the Smart Car sector plays out. Excessive fragmentation and regulation is crippling the data portion of it, but GNTX is participating in a more tangible and familiar area.
Was I Wrong on GNTX? (updated after earnings report)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.