GRMN rebound from recent losses
Thursday, October 04, 2007
Garmin shares were up today more than 4% tclosing at $100.95 after four sessions in row of big losses. Stock come from $122 to below $100 in just a few sessions with a tremendous volume. It was very interesting this this baby today close above $100, but I prefer wait for tomorrow confirmation to be more Bullish in stock, however today rebound was very nice. Based in chart above stock still trading in a Bullish Market, but you should pay attention to its 50 dma, because a new close below this line could push stock again for a new pull back. Keep an eye on GRMN tomorrow.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.
Labels: GRMN