GRMN finds buyers around 68.22 for the third day in a row
Garmin Ltd. (GRMN) Technical Analysis Report for Sep 14, 2018
Moving higher for the 5th day in a row, GRMN ended the week 1.18% higher at 68.72 after gaining $0.11 (0.16%) today. Today's closing price of 68.72 marks the highest close since September 6th. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending with a strong close near the high of the day sets a bullish note for the next session.
Friday's trading range was $0.61 (0.89%), that's below last trading month's daily average range of $0.87. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 68.11 and 69.15 which it has been in now for the last three days.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.
Prices are trading close to the key resistance level at 69.11. The share found buyers again today around 68.22 for the third trading day in a row after having found demand at 68.11 in the prior session and at 68.16 two days ago.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might accelerate should prices move above the close-by swing high at 69.15 where further buy stops could get triggered. Selling might speed up should prices move below the nearby swing low at 68.11 where further sell stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Garmin Ltd.
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|Close near low of period||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
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