Genuine Parts: 69 Years of Growth Hits a Key Technical Zone

Hi all,

Genuine Parts has raised its dividend for 69 consecutive years, making it the second company in the world to achieve this milestone. Companies with a track record of increasing dividends for 50+ consecutive years are called Dividend Kings. At the top of the list is American States Water, with an impressive 70-year streak.

This means Genuine Parts has witnessed every major S&P 500 crash, and much more, yet has continued to raise its dividend year after year.

Technically, the stock has now reached, or more precisely, touched, a strong support zone that consists of multiple key factors:

1. A long-term trendline
2. The round number at $100
3. Previous yearly highs that now act as support
4. A 50% retracement from the all-time high, landing right in the marked zone
5. A channel projection
6. An equal waves setup
7. The Fibonacci Golden Ratio
8. The monthly EMA200

Do your homework because fundamental numbers matter. If the fundamentals align with your bias, then from a technical standpoint, you won’t find a more substantial confluence zone on this chart.

Cheers,
Vaido