Keep This Tech Play On Your Radar
InTheMoneyStocks.com | Mar 01, 2018 01:19PM ET
Garmin (NASDAQ:GRMN) is a leading manufacturer of hand-held, portable and fixed-mount GPS systems. The stock topped out on February 20 at $65.96 a share. Since that pivot high, GRMN has sold off by nearly 7 points. Currently, the stock is trading lower by 0.07 to $59.17 a share and is now below the important 50-day moving average, which puts the stock in a weak technical position.h3 Support To Watch/h3
The next major daily chart support level is around the 200-day moving average, which is currently at $56. After that, the stock should find even more support around $54 – that major support is where the stock broke out in October 2017. Every trader should be keeping this support level on their radar.
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