Company: Garmin Ltd.
Ticker: GRMN
Exchange: NYSE
Sector: Technology
Introduction:
Greetings and welcome to today's technical analysis post. Today, we're looking at the daily chart of Garmin Ltd. (GRMN) on the NYSE, featuring a distinctive Cup and Handle pattern acting as a bottom reversal.
Cup and Handle Pattern:
A Cup and Handle pattern is a bullish continuation or reversal pattern that signifies a period of consolidation followed by a breakout. It looks like a cup with a handle on the right side. The 'cup' is a curved u-shape, while the 'handle' is a slight downward drift.
Analysis:
The GRMN chart presents a Cup and Handle pattern that has been forming for 276 days, and is easily recognizable to classic chart pattern analysts. The breakout from this pattern has already occurred, which suggests a potential entry point for traders. Moreover, the price is trading above the 200-day EMA, which supports a bullish setup.
Conclusion:
The Garmin Ltd. daily chart analysis highlights a clear Cup and Handle breakout, a bullish signal for the stock. As always, please remember that trading based on chart patterns should be done in conjunction with sound risk management and proper position sizing.
Please note that this analysis does not constitute financial advice. Always conduct your own due diligence when trading or investing.
If you found this analysis helpful, please consider liking, sharing, and following for more. Happy trading!
Best regards,
Karim Subhieh
Ticker: GRMN
Exchange: NYSE
Sector: Technology
Introduction:
Greetings and welcome to today's technical analysis post. Today, we're looking at the daily chart of Garmin Ltd. (GRMN) on the NYSE, featuring a distinctive Cup and Handle pattern acting as a bottom reversal.
Cup and Handle Pattern:
A Cup and Handle pattern is a bullish continuation or reversal pattern that signifies a period of consolidation followed by a breakout. It looks like a cup with a handle on the right side. The 'cup' is a curved u-shape, while the 'handle' is a slight downward drift.
Analysis:
The GRMN chart presents a Cup and Handle pattern that has been forming for 276 days, and is easily recognizable to classic chart pattern analysts. The breakout from this pattern has already occurred, which suggests a potential entry point for traders. Moreover, the price is trading above the 200-day EMA, which supports a bullish setup.
Conclusion:
The Garmin Ltd. daily chart analysis highlights a clear Cup and Handle breakout, a bullish signal for the stock. As always, please remember that trading based on chart patterns should be done in conjunction with sound risk management and proper position sizing.
Please note that this analysis does not constitute financial advice. Always conduct your own due diligence when trading or investing.
If you found this analysis helpful, please consider liking, sharing, and following for more. Happy trading!
Best regards,
Karim Subhieh
KSC
