Gentex Corp (GNTX) breaking through long-term resistance

gentex a smarter swing trade long setupStock: Gentex Corp (GNTX)

Long or Short: Long

Entry: 19.71

Stop-Loss: 19.15

Chart: Gentex Corp (GNTX) Daily

Gentex GNTX swing trade long to fill the gap

Reason for Trade: One of the few trading prospects out there that I have been able to find lately that offers an opportunity to trade in the “NOW”. First it has this mega seven-month long resistance level that it has been unable to break through, and a huge gap overhead to be filled. I didn’t want to get in this stock until it broke, but now that it has, I am all over this one. 

There’s also a nice uptrend in place from the October lows that has provided solid support for the move higher as well. The stop-loss falls just below the trend-line and some recent price support which bodes well for the increase in chances this stock will move higher. 

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