Garmin Ltd (GRMN.NASDAQ)

1 March 2019

Technical Summary: If you thought the stock of GRMN looked overextended on the one year chart then you are right. It is intersting however on the 5 year chart that the stock has only recently moved to a 5 year high. The stock had previously found resistance around this five year high and consolidated by forming a constructive base. Once the pressure came off the wider market the stock moved higher until it hit some good fundamental news and the stock gapped higher and was bought aggressively by the market. The buying has continued in subsequent trading sessions and the stock looks like it is due for some consolidation.

After a powerful move GRMN is looking overextended

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