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Downtrend Broken Resist.Archive
- 9/6/2024 -
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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 dropped -3.12 points, or -1.70%, and closed at 180.17 on Friday, September 6, 2024. GRMN was trading at average weekly trading volume.
 Long-term trend: [See GRMN long-term trend chart]
A long-term uptrend had started on October 27, 2023 at 99.62 and reached 183.88 on August 30, 2024. GRMN gained -84.26 points, or -84.58%, in 44 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (185.99) is broken. A broken support is considered to be a long-term bearish 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 support in a long-term trend.
 Medium-term trend: [See GRMN medium-term trend chart]
A medium-term uptrend had started on June 17, 2024 at 158.38 and reached 183.88 on August 30, 2024. GRMN gained -25.50 points, or -16.10%, in 10 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 162.32 and resistance is at 197.83. 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 medium-term trend.
 Weekly Technical Indicators: [See GRMN weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. 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 Williams' Percentage Range help.
The weekly MACD line is above its signal line since August 23, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 August 5, 2024 at 160.71 and reached 183.88 on August 30, 2024. GRMN gained -23.17 points, or -14.42%, in 25 days. The price is now at the 16.01% retracement level.
 Daily Technical Indicators: [See GRMN daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. 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. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since August 16, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
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.
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