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Advanced TA SearchArchive
- 5/10/2024 -
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Garmin Ltd. (GRMN) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was a third positive week after 3 consecutive negative weeks for the Garmin Ltd. (GRMN). During the week, the GRMN gained 2.96 points, or 1.78%, and closed at 168.93 on Friday, May 10, 2024. Weekly volume was -10% below average.
GRMN is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See GRMN long-term trend chart]
A long-term downtrend had started on August 31, 2021 at 178.81 and reached 76.37 on October 13, 2022. GRMN lost 102.44 points, or 57.29%, in 58 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (111.56) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. GRMN may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See GRMN medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 99.62 and reached 170.87 on May 7, 2024. GRMN gained -71.25 points, or -71.52%, in 27 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See GRMN weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since February 16, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
Short-term trend: [See GRMN short-term trend chart]
A short-term uptrend had started on April 19, 2024 at 138.86 and reached 170.87 on May 7, 2024. GRMN gained -32.01 points, or -23.05%, in 18 days. The price is now at the 6.06% retracement level.
 Daily Technical Indicators: [See GRMN daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.
The daily MACD line is above its signal line since April 30, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current short-term uptrend is still strong, and momentum is beginning to wane.
The distance between the Bollinger Bands (29.67%) is close to one year high (24.67%). It is 238.49% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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