Garmin Ltd. Stock Forecast
Green day on Wednesday for Garmin Ltd.
(Updated on Apr 24, 2024)
The Garmin Ltd. stock price gained 0.196% on the last trading day (Wednesday, 24th Apr 2024), rising from $142.51 to $142.79. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.90% from a day low at $142.20 to a day high of $143.48. The price has been going up and down for this period, and there has been a -2.17% loss for the last 2 weeks. Volume fell on the last day by -207 thousand shares and in total, 581 thousand shares were bought and sold for approximately $83.03 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $140.91 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 22.78% during the next 3 months and, with a 90% probability hold a price between $173.01 and $189.76 at the end of this 3-month period.
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GRMN Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Garmin Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $145.14. On a fall, the stock will find some support from the short-term average at $141.40. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -4.17%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Garmin Ltd. stock
Garmin Ltd. finds support from accumulated volume at $137.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.28 (0.90%) between high and low. For the last week, the stock has had daily average volatility of 1.47%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GRMN) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Garmin Ltd. to open at $142.82, and during the day (based on 14 day Average True Range), to move between $140.57 and $145.01, which gives a possible trading interval of +/-$2.22 (+/-1.55%) up or down from last closing price. If Garmin Ltd. takes out the full calculated possible swing range there will be an estimated 3.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $145.75 (2.07%) than the support at $137.30 (3.84%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Garmin Ltd. will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.00. We will update the financials statements for Garmin Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.27% in the first trading day after earnings release.
Is Garmin Ltd. stock A Buy?
The Garmin Ltd. stock holds several negative signals and despite the positive trend, we believe Garmin Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.194 Sell Candidate Unchanged
Predicted Opening Price for Garmin Ltd. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $142.82 ( 0.0233%) | $142.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRMN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 144.10 | 0.92 % | |
| R2 | 143.61 | 0.577 % | ||
| R1 | 143.31 | 0.366 % | ||
| Current price: | 142.79 | |||
| Support | S1 | 142.33 | -0.319 % | |
| S2 | 142.03 | -0.531 % | ||
| S3 | 141.54 | -0.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 148.45 | 3.96 % | |
| R2 | 145.99 | 2.24 % | ||
| R1 | 145.75 | 2.07 % | ||
| Current price | 142.79 | |||
| Support | S1 | 137.30 | -3.84% | |
| S2 | 133.94 | -6.20% | ||
| S3 | 133.58 | -6.45% |
GRMN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Dec 13, 2024 | Dec 27, 2024 | $0.750 | 0.525% |
| 2 | Feb 22, 2024 | Sep 13, 2024 | Sep 27, 2024 | $0.750 | 0.525% |
| 3 | Feb 21, 2024 | Jun 17, 2024 | Jun 28, 2024 | $0.750 | 0.525% |
| 4 | Jun 14, 2024 | Jun 14, 2024 | Jun 14, 2024 | $0 | 0% |
| 5 | Jun 16, 2023 | Mar 14, 2024 | Mar 29, 2024 | $0.730 | 0.490% |
FAQ
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