The Greedy Trader Weekly Analysis
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Garmin Ltd.
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Summary:
Weekly :Broken trend resistance line
Daily :Lane's Stochastic is strongly overboughtPrice has crossed above the 50 Day Moving AverageThe price has risen above the Parabolic SARThe price touches the upper Bollinger Band
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It was a first positive week after 3 consecutive negative weeks for the Garmin Ltd. (GRMN). During the week, the GRMN gained 1.67 points, or 2.57%, and closed at 66.66 on Friday, November 30, 2018. GRMN was trading at average weekly trading volume.

Long-term trend: [See GRMN long-term trend chart]
A long-term uptrend had started on November 21, 2008 at 14.40 and reached 70.77 on October 1, 2018. GRMN gained -56.37 points, or -391.46%, in 514 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 34.79 and resistance is at 84.21. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See GRMN medium-term trend chart]
A medium-term downtrend had started on October 1, 2018 at 70.77 and reached 60.55 on October 26, 2018. GRMN lost 10.22 points, or 14.44%, in 3 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (64.75) 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 medium-term trend.

Weekly Technical Indicators: [See GRMN weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since October 12, 2018. This is an indication that the medium-term trend is down. 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 October 26, 2018 at 60.55 and reached 67.95 on November 1, 2018. GRMN gained -7.40 points, or -12.22%, in 6 days. The chart has formed a Symmetric Triangle chart pattern.

Daily Technical Indicators: [See GRMN daily technical indicators chart]
Daily Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Lane's Stochastic. 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 link to access Lane's Stochastic help.

The daily MACD line is above its signal line since October 30, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The price touches the upper Bollinger Band. 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.

During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.19
Williams' Percentage Range (W%R) 41.90
Lane's Stochastic (%D-Slow) 90.05
Strong Overbought
Greed/Fear Indicator (GFI) 67.11
Moving Average Converg./Diverg. (MACD) 0.10
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.43
Williams' Percentage Range (W%R) 47.90
Lane's Stochastic (%D-Slow) 45.14
Greed/Fear Indicator (GFI) 48.02
Moving Average Converg./Diverg. (MACD) 1.28
Trading Signals
Description Value Chart
Upper Bollinger Band 66.80
Price 66.66
Daily Stochastic Crossing 66.39
50 Day Moving Average 65.61
Weekly Trendline Resistance 65.50
20 Day Moving Average 65.46
Weekly Stochastic Crossing 64.93
Weekly Trendline Support 64.75
Lower Bollinger Band 63.98
Parabolic System 63.30
Sector and Industry
Description Name Rank
Sector Technology 3
Industry Scientific/Tech Instrmnts 107
Daily Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Low 60.55
Low Date 10/26/2018
High 67.95
High Date 11/01/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 65.50
Support 64.75
High 70.77
High Date 10/01/2018
Low 60.55
Low Date 10/26/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 57.01
Low Date 04/25/2018
High 70.77
High Date 10/01/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 30.93
Low Date 01/20/2016
High 70.77
High Date 10/01/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 84.21
Support 34.79
Low 14.40
Low Date 11/21/2008
High 70.77
High Date 10/01/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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