Garmin popped after beating earnings both Top & Bottom, and has now a "Bull Flag Pennant". We also have a $4 gap created overnight after earnings! How should we play this setup❓❗️❓❗️
Garmin NYSE:GRMN had earnings today and the price action on the swing timeframes broke the past weeks' lows to recover back inside the range. This setup is happening right on the 50% Retracement of the COVID low to All Time High along with an Ichimoku Cloud Pullback on the Weekly timeframe. Options spreads are wide so this trade will be best expressed with shares.
Long GRMN.NAS- @ best price available below 160. Currently trades @ 155 TA Highlights - RSI @ 24 and turning upwards. (add more on break of 30) - Bounce of 200 DMA - Bounce off lower Bollinger bands( on the 3 previous occasions this occurred in 2020, the stock went on to return 8.8% in the next 20 days. FA Highlights - CAPEX increased from 185m (2020) to...
Bull flag breakout is imminent back to at least previous ATH
Hi traders, today we have Monday, the first trading day of a week. I went through almost 1000 markets over the weekend and picked one market, which is in my WATCHLIST for the upcoming week ( in total there are almost 100 markets ). Why did I choose GARMIN ( NASDAQ:GRMN )? The answer is simple - we have plenty of educational material there : - Volume...
NASDAQ:GRMN currently in resistance area likely to bounce downside :)