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Downtrend Broken Resist.Archive
- 4/5/2024 -
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Garmin Ltd. (GRMN) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Garmin Ltd. (GRMN). During the week, the GRMN gave back -1.34 points, or -0.90%, and closed at 147.53 on Friday, April 5, 2024. It was the worst weekly loss since February 2, 2024. Weekly volume was -21% below average.
 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 (109.33) is broken. A broken support is considered to be a long-term bullish signal. 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 149.54 on March 28, 2024. GRMN gained -49.92 points, or -50.11%, in 21 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See GRMN weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range or strongly overbought weekly 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 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 relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See GRMN short-term trend chart]
A short-term downtrend had started on March 28, 2024 at 149.54 and reached 144.84 on April 4, 2024. GRMN lost 4.70 points, or 3.14%, in 7 days. The price is now at the 57.23% retracement level.
 Daily Technical Indicators: [See GRMN daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 20, 2024. This is an indication that the short-term trend is down.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 distance between the Bollinger Bands is falling, and it was 4.09% on Friday. It is 52.13% lower than one year average. It indicates the period of low volatility of the stock price. 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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