Garmin ready to ..... ? US Markets with a big drop
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 stockchartsS&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.
The Dow Jones Industrial Average closed down 2.10% and has now the major support at its 200 daily moving average.
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: Dowjones, Garmin, Nasdaq, SP 500
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