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Look for Shares of Garmin Ltd to Potentially Pullback after Yesterday's 10.29% Rise

By Nick Russo

Garmin Ltd (NASDAQ:GRMN) traded in a range yesterday that spanned from a low of $94.74 to a high of $96.00. Yesterday, the shares gained 10.3%, which took the trading range above the 3-day high of $95.00 on volume of 419,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Garmin Ltd share prices have moved between a 52-week high of $96.44 and a 52-week low of $59.98 and are now trading 58% above that low price at $94.89 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has risen 0.6%.

SmarTrend is tracking the current trend status for Garmin Ltd and will alert subscribers who have GRMN in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders garmin ltd

Ticker(s): GRMN