--Financial Tools ---Futures Market---ADD HERE LINK-- OPTION ALERTS --BENZINGA--

« Home | Stocks in focus today » | GTW takeover , Trade Ideas - CROX, and NOK » | Air Race in OPorto, Portugal » | Trade Ideas for Monday - BIIB, TLAB » | Trade Ideas to analyze before Monday - GOOG, AAPL » | Google Sky - Another excellent program from Google... » | Trade Ideas for today - CROX , PCLN , JDSU » | Top picks for Thursday - CAVM and JDS Uniphase » | Luxury micro cars - Take a look !!! » | Top picks for Wednesday - Garmin, NUAN and REGN » 

Tuesday, August 28, 2007 

Garmin ready to ..... ? US Markets with a big drop

Chart courtesy of stockcharts

What do you think it will happen to Garmin stock after today drop ? breakdown the trend, double top made or just a restest of the uptrend ? Give me your tips and share with the others investors !!! Honestly speaking I think stock will test the uptrend once again. This baby since the begin of the year has been one of my top picks. Stock are still making nice upwards, and the Bullish pattern is very clear on the chart, however today close below 20 dma, should push stock to test the uptrend line at $92.

Chart courtesy of stockcharts

S&P 500 closed down 2.35%. New selling pressure came to the market after FED minutes, worries about the economy are still on the table. Technically indices closed the day in a bad technical situation, SPX below its 20,50,200 dma.

Chart courtesy of stockcharts

The Dow Jones Industrial Average closed down 2.10% and has now the major support at its 200 daily moving average.

Chart courtesy of stockcharts

Nasdaq Composite closed down 2.37%. Indicators are showing bearish signals, such as CCI and RSI. Since July highs Nasdaq is trading in a short downtrend as show the chart, it has now the major support as DowJones at 200 dma.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All. Have a nice evening !!!

AC

Labels: , , ,

Bookmark and Share

Hi AC !!!

GRMN will for sure test the uptrend but I don't think that it will break.

Regards,

Smith (U.S)

Post a Comment
Contact

About Me

    Photobucket
  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

  • Benzinga.com supporter

    Iceman Trading Academy Moderator

    Benzinga.com supporter



    FREE NEWSLETTER

      Enter your email address:

      Delivered by FeedBurner

      Subscribe my feed :

    Support AC

    • Support AC Investor Blog, Donate with PayPal

    Advertising

      Interested in advertising on AC Investor Blog ? Click Here

    RECOMMENDED



    TRANSLATOR

    Site Information

    Stock Market Blogroll

    Friends BLOGROLL

    ARCHIVES

Powered by Blogger
and Blogger Templates


Add to Google