Don't Ignore This Chart!

Don't Put Gentex in your Rearview Mirror

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I did one of my favorite scans today and it produced a little known company (among others) called Gentex Corp (GNTX). I actually had to look up what their business was about. Interestingly, they manufacture auto-dimming rearview mirrors. I wanted you to see this chart regardless of its obscurity because it looks very bullish. What the future holds for GNTX is uncertain, but it's definitely worth a look.

GNTX came up on my scan that pulls stocks with new 5-EMA crossover 20-EMA and new Price Momentum Oscillator (PMO) positive crossover. Additionally the stock needs to be in a "bull market" which means the 50-EMA is above the 200-EMA. Here is the scan:

[TYPE = STOCK] AND [DAILY SMA(20,DAILY VOLUME) > 50000]
AND [TODAY'S EMA(20,CLOSE) > TODAY'S EMA(50,CLOSE)]
AND [TODAY'S EMA(50,CLOSE) > TODAY'S EMA(200,CLOSE)]
AND [TODAY'S EMA(5,CLOSE) > TODAY'S EMA(20,CLOSE)]
AND [YESTERDAY'S EMA(5,CLOSE) < YESTERDAY'S EMA(20,CLOSE)]
AND [TODAY'S PMO LINE(35,20,10) > TODAY'S PMO SIGNAL(35,20,10)]
AND [YESTERDAY'S PMO LINE(35,20,10) <= YESTERDAY'S PMO SIGNAL(35,20,10)] 

The GNTX chart below shows the 5/20-EMA crossover that is happening at the same time as the 20-EMA is crossing over the 50-EMA. This implies that GNTX just went on Short-Term and Intermediate-Term Trend Model BUY signals. Additionally we see a PMO crossover that is occurring in oversold territory. Finally, the SCTR value is above 70 and rising. As far as price, it has just broken through declining tops line resistance and has some room before hitting the next areas of resistance.

Happy Charting!
Erin

**This is NOT a recommendation to buy, it is an informational "flag". Follow-through with your own research.

 

Erin Swenlin
About the author: is a co-founder of the DecisionPoint.com website along with her father, Carl Swenlin. She launched the DecisionPoint daily blog in 2009 alongside Carl and now serves as a consulting technical analyst and blog contributor at StockCharts.com. Erin is an active Member of the CMT Association. She holds a Master's degree in Information Resource Management from the Air Force Institute of Technology as well as a Bachelor's degree in Mathematics from the University of Southern California. Learn More
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