( Yesterday close ) Chart courtesy of stockcharts

Garmin shares are today trading under pressure after Deutsche Securities downgrade stock to Hold from Buy reducing its price target to $90 from $125. Looking at the daily chart, stock has been trading in a clear downtrend since highs of October, and over this week stock broke down one important level of support, its 200 dma. RSI has reached oversold conditions today, so it’s natural that the selling pressure starts losing some strength. Keep an eye on her.

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