The Greedy Trader Weekly Analysis
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Garmin Ltd.
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Summary:
Weekly :Overbought sectorBroken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are overbought
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It was a fourth consecutive positive week for the Garmin Ltd. (GRMN). During the week, the GRMN climbed 0.46 points, or 0.75%, and closed at 61.85 on Friday, June 08, 2018. Weekly volume was -35% below average.

GRMN is a member of Technology Sector. Technology is the most overbought 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 uptrend had started on November 21, 2008 at 14.40 and reached 65.96 on February 20, 2018. GRMN gained -51.56 points, or -358.06%, in 482 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 34.36 and resistance is at 81.76. 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 February 20, 2018 at 65.96 and reached 57.01 on April 25, 2018. GRMN lost 8.95 points, or 13.57%, in 9 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (56.50) 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 February 16, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 May 15, 2018 at 58.71 and reached 62.06 on June 7, 2018. GRMN gained -3.35 points, or -5.71%, in 23 days. The chart has formed a Rising Channel chart pattern.

Daily Technical Indicators: [See GRMN daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The daily MACD line is above its signal line since May 15, 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.39
Williams' Percentage Range (W%R) 18.80
Overbought
Lane's Stochastic (%D-Slow) 84.61
Overbought
Greed/Fear Indicator (GFI) 77.73
Moving Average Converg./Diverg. (MACD) 0.43
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.61
Williams' Percentage Range (W%R) 50.60
Lane's Stochastic (%D-Slow) 60.35
Greed/Fear Indicator (GFI) 54.13
Moving Average Converg./Diverg. (MACD) 0.72
Trading Signals
Description Value Chart
Upper Bollinger Band 62.33
Price 61.85
Daily Stochastic Crossing 61.82
Weekly Stochastic Crossing 60.50
20 Day Moving Average 60.50
Parabolic System 60.47
50 Day Moving Average 59.71
Lower Bollinger Band 59.03
Monthly Trendline Support 56.50
Monthly Trendline Resistance 55.36
Sector and Industry
Description Name Rank
Sector Technology 9
Industry Scientific/Tech Instrmnts 74
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 58.71
Low Date 05/15/2018
High 62.06
High Date 06/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 57.01
Low Date 04/25/2018
High 62.46
High Date 05/02/2018
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 55.36
Support 56.50
High 65.96
High Date 02/20/2018
Low 57.01
Low Date 04/25/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 30.93
Low Date 01/20/2016
High 65.96
High Date 02/20/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 81.76
Support 34.36
Low 14.40
Low Date 11/21/2008
High 65.96
High Date 02/20/2018
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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