The chart of the day belongs to the technology company Garmin (GRMN), states Jim Van Meerten of BarChart.com.
I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum, and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 11/ 2 the stock gained 1.90%.
GRMN Price vs Daily Moving Averages
Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Its Fitness segment offers running and multi-sport watches; cycling products; activity tracking and smartwatch devices; and fitness and cycling accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms; and Connect IQ, an application development platform.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 27.40+ Weighted Alpha
- 27.72% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50, and 100-day moving averages
- 5 new highs and up 8.17% in the last month
- Relative Strength Index 70.06%
- Technical support level at $115.88
- Recently traded at $116.52 with a 50-day moving average of $106.48
Fundamental Factors:
- Market Cap $22.31 billion
- P/E 22.06
- Dividend yield 2.50%
- Revenue is expected to grow 4.00% this year and another 7.50% next year
- Earnings are estimated to increase by 1.00% this year, an additional 9.70% next year, and continue to compound at an annual rate of 5.60% for the next five years
Analysts and Investor Sentiment: I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts gave two strong buy, one buy, and seven hold opinions on the stock
- Analysts' price targets are between $100 and $165 with a consensus price target of $125 for a 7% gain
- The individual investors following the stock on Motley Fool voted 4,154 to 413 for the stock to beat the market with the more experienced investors voting 922 to 71 for the same result
- Value Line rates it an average of three
- CFRAs MarketScope rates it a hold with a price target of $121
- 23,030 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least every week.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
