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SmarTrend Watching for Potential Rebound in Shares of Garmin After 7.01% Loss
Jan 09, 2013 (SmarTrend(R) News Watch via COMTEX) --
Garmin (NASDAQ:GRMN) traded in a range yesterday that spanned from a low of $39.24 to a high of $42.14. Yesterday, the shares fell 7.0%, which took the trading range below the 3-day low of $41.46 on volume of 4.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
Garmin share prices have moved between a 52-week high of $50.67 and a 52-week low of $29.23 and are now trading 34% above that low price at $39.29 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.5%.
SmarTrend recommended that subscribers consider buying shares of Garmin on November 30th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $39.08. Since that recommendation, shares of Garmin have risen 8.1%. We continue to monitor GRMN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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