Gentex Corporation Stock Forecast
Gentex Corporation stock upgraded to Buy Candidate.
(Updated on Apr 22, 2024)
The Gentex Corporation stock price gained 1.00% on the last trading day (Monday, 22nd Apr 2024), rising from $33.91 to $34.25. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.52% from a day low at $33.90 to a day high of $34.42. The price has fallen in 6 of the last 10 days and is down by -4.6% for this period. Volume fell on the last day by -257 thousand shares and in total, 952 thousand shares were bought and sold for approximately $32.60 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $33.58 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.92% during the next 3 months and, with a 90% probability hold a price between $34.90 and $39.30 at the end of this 3-month period.
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GNTX Signals & Forecast
There are mixed signals in the stock today. The Gentex Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $35.68. On a fall, the stock will find some support from the short-term average at $33.87. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 2.21%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Gentex Corporation stock
Gentex Corporation finds support from accumulated volume at $33.92 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.515 between high and low, or 1.52%. For the last week, the stock has had daily average volatility of 1.46%.
Our recommended stop-loss: $32.47 (-5.19%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (GNTX) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Gentex Corporation to open at $34.19, and during the day (based on 14 day Average True Range), to move between $33.69 and $34.81, which gives a possible trading interval of +/-$0.562 (+/-1.64%) up or down from last closing price. If Gentex Corporation takes out the full calculated possible swing range there will be an estimated 3.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $33.92 (0.96%) than the resistance at $35.90 (4.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Gentex Corporation will release earnings BMO on Friday, April 26, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.470. We will update the financials statements for Gentex Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.03% in the first trading day after earnings release.
Is Gentex Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Gentex Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.041 Buy Candidate Upgraded
Predicted Opening Price for Gentex Corporation of Tuesday, April 23, 2024
Fair opening price April 23, 2024 | Current price |
---|---|
$34.19 ( 0.180%) | $34.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GNTX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 34.70 | 1.32 % | |
R2 | 34.51 | 0.749 % | ||
R1 | 34.39 | 0.394 % | ||
Current price: | 34.25 | |||
Support | S1 | 33.99 | -0.754 % | |
S2 | 33.87 | -1.11 % | ||
S3 | 33.67 | -1.68 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 37.10 | 8.32 % | |
R2 | 35.91 | 4.85 % | ||
R1 | 35.90 | 4.82 % | ||
Current price | 34.25 | |||
Support | S1 | 33.92 | -0.96% | |
S2 | 33.69 | -1.64% | ||
S3 | 31.84 | -7.04% |
GNTX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 05, 2024 | Apr 04, 2024 | Apr 17, 2024 | $0.120 | 0.358% |
2 | Nov 27, 2023 | Jan 04, 2024 | Jan 17, 2024 | $0.120 | 0.371% |
3 | Sep 01, 2023 | Oct 05, 2023 | Oct 18, 2023 | $0.120 | 0.394% |
4 | May 31, 2023 | Jul 06, 2023 | Jul 19, 2023 | $0.120 | 0.382% |
5 | Feb 28, 2023 | Apr 05, 2023 | Apr 19, 2023 | $0.120 | 0.446% |
FAQ
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